Insider Buying: Pacific Premier Bancorp, Inc. (PPBI) Director Purchases 500 Shares of Stock
Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Joseph L. Garrett acquired 500 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, May 22nd. The shares were purchased at an average price of $33.75 per share, with a total value of $16,875.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) remained flat at $34.55 during mid-day trading on Wednesday. 144,618 shares of the stock were exchanged. The stock has a market cap of $1.38 billion, a P/E ratio of 23.55 and a beta of 0.69. The firm has a 50 day moving average of $36.13 and a 200-day moving average of $36.22. Pacific Premier Bancorp, Inc. has a 1-year low of $22.66 and a 1-year high of $41.90.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The business had revenue of $46.39 million during the quarter, compared to analyst estimates of $46.48 million. Pacific Premier Bancorp had a return on equity of 9.78% and a net margin of 21.54%. During the same quarter last year, the business posted $0.41 EPS. On average, equities research analysts forecast that Pacific Premier Bancorp, Inc. will post $1.81 earnings per share for the current fiscal year.
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A number of research firms recently commented on PPBI. FBR & Co upped their price objective on Pacific Premier Bancorp from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research report on Tuesday, January 24th. Zacks Investment Research lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, February 8th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $41.00 price target (down previously from $43.00) on shares of Pacific Premier Bancorp in a report on Monday, April 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $42.00.
Several institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new position in Pacific Premier Bancorp during the first quarter worth $109,000. Envestnet Asset Management Inc. raised its position in Pacific Premier Bancorp by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock worth $112,000 after buying an additional 207 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Pacific Premier Bancorp during the first quarter worth $188,000. Paloma Partners Management Co bought a new position in Pacific Premier Bancorp during the first quarter worth $201,000. Finally, Virginia Retirement Systems ET AL bought a new position in Pacific Premier Bancorp during the first quarter worth $204,000. Institutional investors and hedge funds own 76.79% 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 Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.
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