Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives $25.00 Consensus PT from Brokerages

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have earned a consensus rating of “Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $25.00.

PPBI has been the topic of a number of analyst reports. BidaskClub cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 16th. Stephens upgraded Pacific Premier Bancorp from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Wednesday, March 25th. ValuEngine upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Raymond James upgraded Pacific Premier Bancorp from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, June 17th.

In other news, EVP Michael S. Karr sold 10,000 shares of Pacific Premier Bancorp stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $21.13, for a total transaction of $211,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.81% of the company’s stock.

Several institutional investors have recently made changes to their positions in PPBI. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Pacific Premier Bancorp during the 1st quarter valued at about $85,000. Victory Capital Management Inc. lifted its holdings in Pacific Premier Bancorp by 18.5% in the 4th quarter. Victory Capital Management Inc. now owns 15,351 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 2,399 shares during the last quarter. State Street Corp lifted its holdings in Pacific Premier Bancorp by 2.6% in the 4th quarter. State Street Corp now owns 2,054,630 shares of the financial services provider’s stock worth $66,991,000 after purchasing an additional 51,519 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Pacific Premier Bancorp by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 363,904 shares of the financial services provider’s stock worth $11,866,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Pacific Premier Bancorp by 27.0% in the 4th quarter. Comerica Bank now owns 71,863 shares of the financial services provider’s stock worth $2,175,000 after purchasing an additional 15,258 shares during the last quarter. Institutional investors and hedge funds own 89.15% of the company’s stock.

PPBI traded down $0.03 during trading on Friday, reaching $20.20. The company had a trading volume of 381,430 shares, compared to its average volume of 884,658. The firm’s 50-day simple moving average is $21.06 and its 200 day simple moving average is $24.25. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 8.31 and a beta of 1.37. Pacific Premier Bancorp has a 12-month low of $13.93 and a 12-month high of $34.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.00.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.04). The company had revenue of $123.65 million during the quarter, compared to analysts’ expectations of $114.89 million. Pacific Premier Bancorp had a return on equity of 7.35% and a net margin of 26.17%. During the same period in the prior year, the business posted $0.62 EPS. On average, sell-side analysts expect that Pacific Premier Bancorp will post 1.49 EPS for the current year.

Pacific Premier Bancorp Company Profile

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 savings accounts; and certificates of deposit.

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