Pacific Premier Bancorp (NASDAQ:PPBI) Reaches New 52-Week High at $35.33

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.33 and last traded at $35.10, with a volume of 6997 shares trading hands. The stock had previously closed at $33.95.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Saturday, December 19th. BidaskClub upgraded shares of Pacific Premier Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 3rd. Stephens began coverage on Pacific Premier Bancorp in a research note on Wednesday, November 4th. They set an “overweight” rating for the company. Raymond James raised their price objective on Pacific Premier Bancorp from $25.00 to $30.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 28th. Finally, ValuEngine upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Pacific Premier Bancorp has an average rating of “Buy” and an average price target of $29.50.

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.21 billion, a PE ratio of 85.14 and a beta of 1.43. The stock has a 50 day moving average price of $30.94 and a two-hundred day moving average price of $24.98.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Sunday, November 1st. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.21. Pacific Premier Bancorp had a net margin of 1.59% and a return on equity of 4.94%. The business had revenue of $193.30 million for the quarter, compared to analyst estimates of $186.95 million. During the same quarter in the prior year, the business posted $0.69 EPS. As a group, equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 0.31 earnings per share for the current year.

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 33,969 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $25.37, for a total value of $861,793.53. Following the completion of the transaction, the executive vice president now owns 66,293 shares of the company’s stock, valued at approximately $1,681,853.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.81% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. TD Asset Management Inc. lifted its holdings in Pacific Premier Bancorp by 0.8% in the third quarter. TD Asset Management Inc. now owns 61,600 shares of the financial services provider’s stock valued at $1,241,000 after acquiring an additional 500 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Pacific Premier Bancorp by 6.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,876 shares of the financial services provider’s stock worth $279,000 after buying an additional 728 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Pacific Premier Bancorp by 1.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 73,052 shares of the financial services provider’s stock valued at $1,471,000 after buying an additional 948 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Pacific Premier Bancorp by 13.2% during the third quarter. CIBC Asset Management Inc now owns 11,307 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Pacific Premier Bancorp during the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 84.73% of the company’s stock.

About Pacific Premier Bancorp (NASDAQ:PPBI)

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. The company accepts deposit products, such as checking, money market, and passbook savings accounts; and certificates of deposit.

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