Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have been given a consensus recommendation of “Buy” by the six analysts that are currently covering the stock. Five research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $37.00.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday, March 29th. Piper Jaffray Companies restated an “overweight” rating and set a $41.00 price target (down from $43.00) on shares of Pacific Premier Bancorp in a report on Monday. FIG Partners upgraded shares of Pacific Premier Bancorp from a “market-perform” rating to an “outperform” rating in a research note on Friday, January 6th. FBR & Co boosted their target price on shares of Pacific Premier Bancorp from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research note on Tuesday, January 24th. Finally, Stephens assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, December 22nd. They issued an “overweight” rating on the stock.
Pacific Premier Bancorp (NASDAQ:PPBI) traded up 2.40% during trading on Monday, hitting $36.30. 180,957 shares of the stock were exchanged. The firm’s 50-day moving average is $37.44 and its 200 day moving average is $34.37. The firm has a market cap of $1.01 billion, a PE ratio of 24.86 and a beta of 0.69. Pacific Premier Bancorp has a 52 week low of $22.00 and a 52 week high of $41.90.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Tuesday, January 24th. The financial services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Pacific Premier Bancorp had a net margin of 21.54% and a return on equity of 9.78%. The business had revenue of $46.60 million for the quarter, compared to analysts’ expectations of $40.53 million. During the same period in the previous year, the company earned $0.37 earnings per share. The firm’s revenue for the quarter was up 41.0% compared to the same quarter last year. Analysts expect that Pacific Premier Bancorp will post $1.89 earnings per share for the current fiscal year.
In other Pacific Premier Bancorp news, Director Kenneth A. Boudreau sold 6,436 shares of the business’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $39.05, for a total value of $251,325.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael L. Mckennon sold 5,000 shares of the business’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $40.02, for a total transaction of $200,100.00. Following the completion of the transaction, the director now owns 40,000 shares in the company, valued at $1,600,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,500 shares of company stock worth $1,301,675. Corporate insiders own 4.87% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in Pacific Premier Bancorp by 7.8% in the third quarter. US Bancorp DE now owns 5,749 shares of the financial services provider’s stock worth $153,000 after buying an additional 418 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in Pacific Premier Bancorp during the third quarter valued at about $212,000. National Planning Corp acquired a new stake in Pacific Premier Bancorp during the fourth quarter valued at about $223,000. Trexquant Investment LP acquired a new stake in Pacific Premier Bancorp during the fourth quarter valued at about $245,000. Finally, Harbor Advisors LLC acquired a new stake in Pacific Premier Bancorp during the fourth quarter valued at about $392,000. Hedge funds and other institutional investors own 76.79% of the company’s stock.
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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