Pacific Premier Bancorp (PPBI) Downgraded by Zacks Investment Research

Pacific Premier Bancorp (NASDAQ:PPBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “LIFE Financial Corporation is a savings and loan holding company for Life Bank. The company originates, purchases, sells, securitizes and services primarily non-conventional mortgage loans principally secured by first and second mortgages on one- to four-family residences. The Company makes Liberator Series loans, which are for the purchase of residential real property by borrowers who generally would not qualify for Fannie Mae or Freddie Mac loans, and Portfolio Series loans, which is debt consolidation loans for borrowers whose credit history qualifies them. “

A number of other brokerages have also recently issued reports on PPBI. Piper Jaffray Companies set a $55.00 target price on Pacific Premier Bancorp and gave the stock a “buy” rating in a research report on Tuesday. Stephens reaffirmed a “hold” rating and set a $45.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, February 6th. Finally, ValuEngine cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.00.

Pacific Premier Bancorp (NASDAQ:PPBI) opened at $40.80 on Wednesday. Pacific Premier Bancorp has a twelve month low of $32.05 and a twelve month high of $42.55. The company has a market capitalization of $1,886.80, a P/E ratio of 26.32, a P/E/G ratio of 1.87 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Pacific Premier Bancorp had a return on equity of 8.65% and a net margin of 19.96%. The firm had revenue of $87.62 million for the quarter, compared to the consensus estimate of $83.30 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. analysts expect that Pacific Premier Bancorp will post 2.73 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC acquired a new position in shares of Pacific Premier Bancorp in the first quarter valued at $109,000. Envestnet Asset Management Inc. raised its stake in shares of 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 valued at $112,000 after purchasing an additional 207 shares in the last quarter. Citigroup Inc. raised its stake in shares of Pacific Premier Bancorp by 664.8% in the second 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 in the last quarter. First Mercantile Trust Co. acquired a new position in shares of Pacific Premier Bancorp in the second quarter valued at $113,000. Finally, LS Investment Advisors LLC acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at $130,000. Institutional investors and hedge funds own 71.15% of the company’s stock.

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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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