BidaskClub upgraded shares of Pacific Premier Bancorp (NASDAQ:PPBI) from a hold rating to a buy rating in a research note issued to investors on Saturday.
Several other research firms also recently issued reports on PPBI. Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a hold rating to a buy rating and set a $46.00 price objective on the stock in a report on Thursday, February 15th. ValuEngine downgraded shares of Pacific Premier Bancorp from a buy rating to a hold rating in a report on Friday, March 23rd. Piper Jaffray Companies set a $55.00 price objective on shares of Pacific Premier Bancorp and gave the company a buy rating in a report on Tuesday, February 13th. Finally, Stephens restated a hold rating and set a $45.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $47.00.
Shares of Pacific Premier Bancorp stock opened at $42.55 on Friday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.89 and a beta of 0.69. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp has a one year low of $32.05 and a one year high of $46.05.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, May 1st. The financial services provider reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The firm had revenue of $88.95 million during the quarter, compared to the consensus estimate of $89.10 million. Pacific Premier Bancorp had a return on equity of 8.57% and a net margin of 22.48%. During the same quarter in the prior year, the firm posted $0.34 earnings per share. sell-side analysts anticipate that Pacific Premier Bancorp will post 2.77 EPS for the current year.
In other news, President Edward Earl Wilcox sold 21,261 shares of the company’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $44.50, for a total transaction of $946,114.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Steven R. Gardner sold 54,849 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $43.08, for a total transaction of $2,362,894.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,146 shares of company stock worth $4,251,269. Corporate insiders own 4.12% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC purchased a new stake in Pacific Premier Bancorp in the fourth quarter valued at approximately $130,000. Financial Advisors Network Inc. purchased a new stake in Pacific Premier Bancorp in the fourth quarter valued at approximately $200,000. Sciencast Management LP purchased a new stake in Pacific Premier Bancorp in the first quarter valued at approximately $202,000. Quadrature Capital Ltd purchased a new stake in Pacific Premier Bancorp in the first quarter valued at approximately $204,000. Finally, OppenheimerFunds Inc. purchased a new stake in Pacific Premier Bancorp in the fourth quarter valued at approximately $216,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.
About Pacific Premier Bancorp
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.
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