Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have been assigned an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $46.50.
Several analysts recently issued reports on PPBI shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $49.00 price target on shares of Pacific Premier Bancorp in a report on Friday, October 27th. ValuEngine cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research upgraded 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. Finally, Stephens reiterated a “hold” rating and set a $45.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, February 6th.
A number of hedge funds have recently added to or reduced their stakes in PPBI. BlackRock Inc. increased its stake in Pacific Premier Bancorp by 103.1% during the fourth quarter. BlackRock Inc. now owns 4,970,355 shares of the financial services provider’s stock valued at $198,814,000 after purchasing an additional 2,522,820 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Pacific Premier Bancorp during the second quarter valued at $31,506,000. Vanguard Group Inc. increased its stake in Pacific Premier Bancorp by 31.5% during the second quarter. Vanguard Group Inc. now owns 1,478,727 shares of the financial services provider’s stock valued at $54,566,000 after purchasing an additional 354,386 shares during the last quarter. State Street Corp increased its stake in Pacific Premier Bancorp by 30.5% during the second quarter. State Street Corp now owns 1,187,936 shares of the financial services provider’s stock valued at $43,834,000 after purchasing an additional 277,305 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Pacific Premier Bancorp by 79.7% during the fourth quarter. Bank of New York Mellon Corp now owns 597,349 shares of the financial services provider’s stock valued at $23,893,000 after purchasing an additional 265,020 shares during the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm had revenue of $87.62 million for the quarter, compared to analysts’ expectations of $83.30 million. Pacific Premier Bancorp had a net margin of 19.96% and a return on equity of 8.65%. During the same period in the prior year, the company posted $0.43 earnings per share. sell-side analysts expect that Pacific Premier Bancorp will post 2.73 EPS for the current year.
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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 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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