Pacific Premier Bancorp, Inc. (PPBI) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $44.75.

A number of analysts have recently issued reports on PPBI shares. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, December 27th. ValuEngine cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $49.00 target price on shares of Pacific Premier Bancorp in a research note on Friday, October 27th.

In related news, CFO Ronald J. Jr. Nicolas acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was bought at an average price of $36.97 per share, for a total transaction of $92,425.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Steven R. Gardner sold 12,500 shares of Pacific Premier Bancorp stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $41.02, for a total transaction of $512,750.00. The disclosure for this sale can be found here. 4.59% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PPBI. Citigroup Inc. increased its position in Pacific Premier Bancorp by 664.8% during the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 2,646 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Pacific Premier Bancorp by 52.0% in the 2nd 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 during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Pacific Premier Bancorp by 4,866.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock worth $148,000 after buying an additional 3,942 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Pacific Premier Bancorp by 266.5% in the 3rd quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock worth $157,000 after buying an additional 3,041 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Pacific Premier Bancorp in the 3rd quarter worth approximately $196,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp (NASDAQ PPBI) traded up $0.70 on Friday, reaching $41.55. 279,961 shares of the company’s stock traded hands, compared to its average volume of 294,033. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp has a fifty-two week low of $32.05 and a fifty-two week high of $42.55. The company has a market capitalization of $1,888.07, a P/E ratio of 25.65, a PEG ratio of 1.97 and a beta of 0.82.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The business had revenue of $72.51 million for the quarter, compared to the consensus estimate of $72.23 million. Pacific Premier Bancorp had a net margin of 21.82% and a return on equity of 9.21%. During the same period last year, the firm earned $0.33 earnings per share. research analysts expect that Pacific Premier Bancorp will post 1.61 earnings per share for the current year.

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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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