Pacific Premier Bancorp Inc (PPBI) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) from a buy rating to a hold rating in a research report report published on Tuesday.

A number of other research firms have also commented on PPBI. BidaskClub lowered Pacific Premier Bancorp from a hold rating to a sell rating in a research report on Tuesday, July 25th. Piper Jaffray Companies reaffirmed a buy rating and set a $49.00 price target on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. Finally, Stephens lowered Pacific Premier Bancorp from an overweight rating to an equal weight rating in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $45.00.

Pacific Premier Bancorp (PPBI) opened at $38.35 on Tuesday. The company has a market capitalization of $1,750.00, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 2.88 and a beta of 0.86. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp has a 52-week low of $31.20 and a 52-week high of $42.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $72.51 million during the quarter, compared to analyst estimates of $72.23 million. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. During the same quarter in the prior year, the company posted $0.33 EPS. equities research analysts forecast that Pacific Premier Bancorp will post 1.62 earnings per share for the current fiscal year.

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In other news, Director Zareh Hovik Sarrafian bought 1,500 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was purchased at an average price of $32.65 per share, with a total value of $48,975.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Edward Earl Wilcox sold 25,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $32.81, for a total value of $820,250.00. The disclosure for this sale can be found here. Insiders sold a total of 94,166 shares of company stock valued at $3,306,960 in the last three months. Corporate insiders own 4.59% of the company’s stock.

Several large investors have recently made changes to their positions in PPBI. UBS Asset Management Americas Inc. bought a new position in shares of Pacific Premier Bancorp in the 1st quarter worth approximately $214,000. Teachers Advisors LLC raised its position in shares of Pacific Premier Bancorp by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 46,168 shares of the financial services provider’s stock worth $1,780,000 after acquiring an additional 1,489 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Pacific Premier Bancorp by 20.4% in the 1st quarter. TIAA CREF Investment Management LLC now owns 145,283 shares of the financial services provider’s stock worth $5,601,000 after acquiring an additional 24,649 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Pacific Premier Bancorp by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 46,060 shares of the financial services provider’s stock worth $1,776,000 after acquiring an additional 1,100 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new position in shares of Pacific Premier Bancorp in the 1st quarter worth approximately $188,000. 71.81% of the stock is owned by hedge funds and other institutional investors.

About Pacific Premier Bancorp

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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Analyst Recommendations for Pacific Premier Bancorp (NASDAQ:PPBI)

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