Pacific Premier Bancorp (NASDAQ:PPBI) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research downgraded shares of Pacific Premier Bancorp (NASDAQ:PPBI) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “LIFE Financial Corporation is a savings and loan holding company for Life Bank. The company originates, purchases, sells, securitizes and services primarily non-conventional mortgage loans principally secured by first and second mortgages on one- to four-family residences. The Company makes Liberator Series loans, which are for the purchase of residential real property by borrowers who generally would not qualify for Fannie Mae or Freddie Mac loans, and Portfolio Series loans, which is debt consolidation loans for borrowers whose credit history qualifies them. “

A number of other brokerages have also weighed in on PPBI. BidaskClub raised Pacific Premier Bancorp from a hold rating to a buy rating in a report on Saturday, July 27th. ValuEngine raised Pacific Premier Bancorp from a sell rating to a hold rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $37.50.

Shares of NASDAQ:PPBI traded down $0.01 during trading on Thursday, reaching $30.71. The company had a trading volume of 143,700 shares, compared to its average volume of 410,448. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 12.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s fifty day moving average price is $30.64 and its 200 day moving average price is $29.92. Pacific Premier Bancorp has a fifty-two week low of $23.01 and a fifty-two week high of $35.00.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Tuesday, July 23rd. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The company had revenue of $116.97 million during the quarter, compared to analyst estimates of $120.85 million. Pacific Premier Bancorp had a net margin of 26.08% and a return on equity of 8.04%. During the same period in the previous year, the firm posted $0.58 EPS. On average, equities analysts anticipate that Pacific Premier Bancorp will post 2.47 EPS for the current fiscal year.

In other news, Director Joseph L. Garrett bought 1,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $28.78 per share, for a total transaction of $28,780.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.67% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Flinton Capital Management LLC boosted its position in Pacific Premier Bancorp by 38.8% during the second quarter. Flinton Capital Management LLC now owns 1,488 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 416 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in Pacific Premier Bancorp by 38.8% during the second quarter. Meadow Creek Investment Management LLC now owns 2,046 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 572 shares in the last quarter. Riverhead Capital Management LLC boosted its position in Pacific Premier Bancorp by 35.3% during the second quarter. Riverhead Capital Management LLC now owns 2,300 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 600 shares in the last quarter. Arizona State Retirement System boosted its position in Pacific Premier Bancorp by 0.9% during the second quarter. Arizona State Retirement System now owns 70,017 shares of the financial services provider’s stock worth $2,162,000 after purchasing an additional 602 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Pacific Premier Bancorp by 3.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,175 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 675 shares in the last quarter. Institutional investors own 85.76% 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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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