Pacific Premier Bancorp Inc. (PPBI) Downgraded to “Market Perform” at FBR & Co
FBR & Co cut shares of Pacific Premier Bancorp Inc. (NASDAQ:PPBI) from an outperform rating to a market perform rating in a report published on Tuesday morning. They currently have $29.00 price objective on the financial services provider’s stock.
Separately, FIG Partners downgraded Pacific Premier Bancorp from an outperform rating to a market perform rating in a report on Thursday, July 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $24.25.
Shares of Pacific Premier Bancorp (NASDAQ:PPBI) traded up 1.10% during midday trading on Tuesday, hitting $27.50. 19,046 shares of the stock were exchanged. The firm has a market cap of $760.54 million, a PE ratio of 19.33 and a beta of 0.62. Pacific Premier Bancorp has a 52-week low of $18.32 and a 52-week high of $28.35. The firm’s 50-day moving average is $26.88 and its 200 day moving average is $24.58.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.04. Pacific Premier Bancorp had a net margin of 22.05% and a return on equity of 10.45%. On average, analysts forecast that Pacific Premier Bancorp will post $1.56 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Granahan Investment Management Inc. MA increased its position in Pacific Premier Bancorp by 23.2% in the first quarter. Granahan Investment Management Inc. MA now owns 363,900 shares of the financial services provider’s stock valued at $7,777,000 after buying an additional 68,600 shares in the last quarter. Royal Bank of Canada increased its position in Pacific Premier Bancorp by 341.4% in the first quarter. Royal Bank of Canada now owns 715,239 shares of the financial services provider’s stock valued at $15,284,000 after buying an additional 553,214 shares in the last quarter. First Manhattan Co. increased its position in Pacific Premier Bancorp by 138.9% in the second quarter. First Manhattan Co. now owns 113,469 shares of the financial services provider’s stock valued at $2,723,000 after buying an additional 65,969 shares in the last quarter. Bank of Montreal Can purchased a new position in Pacific Premier Bancorp during the second quarter valued at approximately $116,000. Finally, American Century Companies Inc. purchased a new position in Pacific Premier Bancorp during the second quarter valued at approximately $2,133,000. 71.78% 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 Bank’s primary focus market is small and middle market businesses. The Bank offers various deposit products and services, including checking, money market and savings accounts, cash management services, electronic banking services and online bill payment.
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