Pacific Premier Bancorp (PPBI) Rating Increased to Buy at Zacks Investment Research

Pacific Premier Bancorp (NASDAQ:PPBI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $46.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.18% from the company’s previous close.

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. “

Several other equities analysts have also recently weighed in on the stock. ValuEngine cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $49.00 price target on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. Finally, Stephens reaffirmed a “hold” rating and issued a $45.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $46.40.

Shares of Pacific Premier Bancorp (PPBI) opened at $41.75 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.04. The company has a market capitalization of $1,886.97, a PE ratio of 26.94, a PEG ratio of 1.87 and a beta of 0.72. Pacific Premier Bancorp has a 12 month low of $32.05 and a 12 month high of $42.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The company had revenue of $87.62 million during the quarter, compared to the consensus estimate of $83.30 million. Pacific Premier Bancorp had a return on equity of 8.65% and a net margin of 19.96%. During the same period last year, the business posted $0.43 EPS. analysts anticipate that Pacific Premier Bancorp will post 2.73 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in PPBI. Teachers Advisors LLC lifted its position in Pacific Premier Bancorp by 52.7% in the 2nd quarter. Teachers Advisors LLC now owns 70,509 shares of the financial services provider’s stock valued at $2,602,000 after acquiring an additional 24,341 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Pacific Premier Bancorp by 9.4% in 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 in the last quarter. New York State Common Retirement Fund lifted its position in Pacific Premier Bancorp by 95.8% in the 2nd quarter. New York State Common Retirement Fund now owns 73,638 shares of the financial services provider’s stock valued at $2,717,000 after acquiring an additional 36,033 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Pacific Premier Bancorp by 18.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,555 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Citigroup Inc. lifted its position in Pacific Premier Bancorp by 664.8% in the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,646 shares in the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.

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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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