Pacific Premier Bancorp (PPBI) Raised to Hold at ValuEngine

Pacific Premier Bancorp (NASDAQ:PPBI) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other brokerages also recently issued reports on PPBI. BidaskClub downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 17th. Finally, Stephens reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Pacific Premier Bancorp in a research report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Pacific Premier Bancorp has a consensus rating of “Hold” and a consensus target price of $48.00.

Shares of Pacific Premier Bancorp stock opened at $38.45 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Pacific Premier Bancorp has a 52-week low of $32.05 and a 52-week high of $46.05. The company has a market capitalization of $2.34 billion, a PE ratio of 21.72, a PEG ratio of 1.84 and a beta of 0.68.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Pacific Premier Bancorp had a return on equity of 8.61% and a net margin of 24.60%. The firm had revenue of $89.32 million during the quarter, compared to analysts’ expectations of $92.28 million. During the same period in the previous year, the firm earned $0.35 EPS. equities research analysts expect that Pacific Premier Bancorp will post 2.55 earnings per share for the current fiscal year.

In related news, Chairman Steven R. Gardner sold 37,438 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $41.43, for a total value of $1,551,056.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.12% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Putnam Investments LLC boosted its stake in Pacific Premier Bancorp by 112.8% in the 2nd quarter. Putnam Investments LLC now owns 110,510 shares of the financial services provider’s stock worth $4,216,000 after purchasing an additional 58,583 shares in the last quarter. Millennium Management LLC boosted its stake in Pacific Premier Bancorp by 35.7% in the 2nd quarter. Millennium Management LLC now owns 606,810 shares of the financial services provider’s stock worth $23,150,000 after purchasing an additional 159,700 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Pacific Premier Bancorp by 13.3% in the 2nd quarter. MetLife Investment Advisors LLC now owns 21,020 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 2,475 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Pacific Premier Bancorp by 15.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,844 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Pacific Premier Bancorp by 22.4% in the 2nd quarter. Bank of America Corp DE now owns 100,700 shares of the financial services provider’s stock worth $3,841,000 after purchasing an additional 18,426 shares in the last quarter. Institutional investors own 67.87% of the company’s stock.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.

See Also: Market Capitalization

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