Pacific Premier Bancorp Inc (PPBI) Receives Average Rating of “Hold” from Analysts
Pacific Premier Bancorp Inc (NASDAQ:PPBI) has been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $43.00.
A number of equities analysts have recently weighed in on the company. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Monday, July 24th. BidaskClub cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Stephens cut Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th. Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the stock a “buy” rating in a report on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 price target on shares of Pacific Premier Bancorp in a report on Wednesday, June 28th.
Pacific Premier Bancorp (PPBI) traded up 0.25% on Thursday, reaching $40.10. 309,628 shares of the company’s stock traded hands. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 27.81 and a beta of 0.73. The firm has a 50-day moving average price of $36.26 and a 200-day moving average price of $36.23. Pacific Premier Bancorp has a 52 week low of $24.00 and a 52 week high of $41.90.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The business had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $68.18 million. Pacific Premier Bancorp had a return on equity of 9.42% and a net margin of 19.85%. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, analysts predict that Pacific Premier Bancorp will post $1.68 earnings per share for the current year.
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In related news, Director Simone Lagomarsino sold 6,250 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $36.25, for a total transaction of $226,562.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Zareh Hovik Sarrafian bought 1,500 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were purchased at an average price of $32.65 per share, with a total value of $48,975.00. The disclosure for this purchase can be found here. Insiders have sold a total of 94,166 shares of company stock valued at $3,245,772 over the last 90 days. 4.59% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Alps Advisors Inc. boosted its holdings in Pacific Premier Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 12,184 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 31 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Pacific Premier Bancorp by 7.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 207 shares during the period. Citadel Advisors LLC boosted its holdings in Pacific Premier Bancorp by 4.1% during the 1st quarter. Citadel Advisors LLC now owns 10,632 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 415 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Pacific Premier Bancorp by 9.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,340 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 460 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Pacific Premier Bancorp by 0.3% during the 1st quarter. Alliancebernstein L.P. now owns 156,640 shares of the financial services provider’s stock valued at $6,038,000 after acquiring an additional 500 shares during the period. Institutional investors own 82.40% 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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