Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $46.40.
PPBI has been the topic of several analyst reports. Zacks Investment Research lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Piper Jaffray Companies set a $55.00 target price on Pacific Premier Bancorp and gave the stock a “buy” rating in a report on Tuesday, February 13th. ValuEngine lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Stephens restated a “hold” rating and issued a $45.00 price objective on shares of Pacific Premier Bancorp in a research note on Tuesday, February 6th. Finally, BidaskClub upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd.
Pacific Premier Bancorp (PPBI) traded down $0.45 on Friday, reaching $44.25. The company had a trading volume of 235,313 shares, compared to its average volume of 368,499. Pacific Premier Bancorp has a fifty-two week low of $32.05 and a fifty-two week high of $46.05. The company has a market capitalization of $2,085.48, a price-to-earnings ratio of 28.84, a PEG ratio of 1.99 and a beta of 0.67. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.52.
In other Pacific Premier Bancorp news, CEO Steven R. Gardner sold 54,849 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $43.08, for a total value of $2,362,894.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Tom Rice sold 22,036 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $42.76, for a total value of $942,259.36. The disclosure for this sale can be found here. Insiders sold 98,146 shares of company stock worth $4,251,269 in the last 90 days. Corporate insiders own 4.59% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PPBI. BlackRock Inc. raised its stake in Pacific Premier Bancorp by 103.1% in the fourth quarter. BlackRock Inc. now owns 4,970,355 shares of the financial services provider’s stock valued at $198,814,000 after buying an additional 2,522,820 shares during the period. Earnest Partners LLC bought a new position in shares of Pacific Premier Bancorp during the fourth quarter worth approximately $65,490,000. Millennium Management LLC increased its stake in shares of Pacific Premier Bancorp by 120.4% during the fourth quarter. Millennium Management LLC now owns 938,321 shares of the financial services provider’s stock worth $37,533,000 after purchasing an additional 512,542 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Pacific Premier Bancorp by 79.7% during the fourth quarter. Bank of New York Mellon Corp now owns 597,349 shares of the financial services provider’s stock worth $23,893,000 after purchasing an additional 265,020 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Pacific Premier Bancorp by 43.9% during the third quarter. Victory Capital Management Inc. now owns 572,307 shares of the financial services provider’s stock worth $21,604,000 after purchasing an additional 174,503 shares during the period. Hedge funds and other institutional investors own 86.34% of the company’s stock.
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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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