FBR & Co Lowers Pacific Premier Bancorp Inc. (PPBI) to Market Perform
Pacific Premier Bancorp Inc. (NASDAQ:PPBI) was downgraded by equities researchers at FBR & Co from an “outperform” rating to a “market perform” rating in a report issued on Tuesday.
Separately, FIG Partners cut shares of Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.25.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Pacific Premier Bancorp had a return on equity of 10.45% and a net margin of 22.05%.
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A number of large investors have recently bought and sold shares of PPBI. Panagora Asset Management Inc. bought a new stake in Pacific Premier Bancorp during the second quarter worth approximately $103,000. Bank of Montreal Can bought a new stake in Pacific Premier Bancorp during the second quarter worth approximately $116,000. US Bancorp DE boosted its stake in Pacific Premier Bancorp by 6.4% in the second quarter. US Bancorp DE now owns 5,331 shares of the financial services provider’s stock worth $128,000 after buying an additional 320 shares during the last quarter. BlackRock Inc. boosted its stake in Pacific Premier Bancorp by 202.5% in the second quarter. BlackRock Inc. now owns 6,642 shares of the financial services provider’s stock worth $159,000 after buying an additional 4,446 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Pacific Premier Bancorp during the second quarter worth approximately $234,000. Institutional investors and hedge funds own 71.78% of the company’s stock.
Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Bank’s primary focus market is small and middle market businesses. The Bank offers various deposit products and services, including checking, money market and savings accounts, cash management services, electronic banking services and online bill payment.
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