Pacific Premier Bancorp Inc (PPBI) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) have been assigned a consensus rating of “Buy” from the eight research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $43.00.
PPBI has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, June 28th. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, June 28th. ValuEngine raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Piper Jaffray Companies set a $43.00 target price on shares of Pacific Premier Bancorp and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Stephens downgraded shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th.
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Shares of Pacific Premier Bancorp (NASDAQ:PPBI) traded down 0.72% on Friday, hitting $34.55. 484,291 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $35.38 and its 200 day moving average price is $36.41. Pacific Premier Bancorp has a 12-month low of $24.00 and a 12-month high of $41.90. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 23.96 and a beta of 0.73.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.12). The firm had revenue of $72.10 million during the quarter, compared to analysts’ expectations of $68.18 million. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 9.42%. During the same period in the previous year, the firm earned $0.38 EPS. On average, equities analysts predict that Pacific Premier Bancorp will post $1.68 earnings per share for the current fiscal year.
In related news, Director Simone Lagomarsino sold 6,250 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $36.25, for a total transaction of $226,562.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Edward Earl Wilcox sold 25,000 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $32.81, for a total transaction of $820,250.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,166 shares of company stock worth $3,245,772. 4.59% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings in Pacific Premier Bancorp by 7.6% during 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 in the last quarter. First Mercantile Trust Co. purchased a new stake in Pacific Premier Bancorp during the second quarter worth about $113,000. Citigroup Inc. boosted its holdings in Pacific Premier Bancorp by 664.8% during the second quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,646 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Pacific Premier Bancorp by 52.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock worth $127,000 after buying an additional 1,177 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new stake in Pacific Premier Bancorp during the second quarter worth about $133,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.
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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