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.
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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