Pacific Premier Bancorp Inc. (PPBI) Rating Lowered to Market Perform at FBR & Co
Pacific Premier Bancorp Inc. (NASDAQ:PPBI) was downgraded by research analysts at FBR & Co from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday.
Separately, FIG Partners cut shares of Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $24.25.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.38 earnings per share for the quarter, missing the 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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Several large investors have recently added to or reduced their stakes in PPBI. Granahan Investment Management Inc. MA increased its stake in Pacific Premier Bancorp by 23.2% in the first quarter. Granahan Investment Management Inc. MA now owns 363,900 shares of the financial services provider’s stock valued at $7,777,000 after buying an additional 68,600 shares during the last quarter. Royal Bank of Canada increased its stake in Pacific Premier Bancorp by 341.4% in the first quarter. Royal Bank of Canada now owns 715,239 shares of the financial services provider’s stock valued at $15,284,000 after buying an additional 553,214 shares during the last quarter. First Manhattan Co. increased its stake in Pacific Premier Bancorp by 138.9% in the second quarter. First Manhattan Co. now owns 113,469 shares of the financial services provider’s stock valued at $2,723,000 after buying an additional 65,969 shares during the last quarter. Bank of Montreal Can bought a new stake in Pacific Premier Bancorp during the second quarter valued at approximately $116,000. Finally, American Century Companies Inc. bought a new stake in Pacific Premier Bancorp during the second quarter valued at approximately $2,133,000. 71.78% of the stock is owned by institutional investors.
About Pacific Premier Bancorp
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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