Pacific Premier Bancorp (PPBI) Receiving Somewhat Positive Press Coverage, Accern Reports
Press coverage about Pacific Premier Bancorp (NASDAQ:PPBI) has trended somewhat positive this week, Accern reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Pacific Premier Bancorp earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave media coverage about the financial services provider an impact score of 44.6969584032996 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
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, July 25th. Zacks Investment Research cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Piper Jaffray Companies set a $43.00 price objective on Pacific Premier Bancorp and gave the stock a “buy” rating in a research note on Saturday, August 19th. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Stephens cut Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $42.25.
Shares of Pacific Premier Bancorp (NASDAQ PPBI) traded down 0.42% during midday trading on Wednesday, hitting $35.20. The stock had a trading volume of 72,046 shares. The firm has a market cap of $1.41 billion, a P/E ratio of 24.41 and a beta of 0.72. Pacific Premier Bancorp has a 52 week low of $24.00 and a 52 week high of $41.90. The company’s 50 day moving average is $36.34 and its 200 day moving average is $36.94.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.12. The firm had revenue of $72.10 million for the quarter, compared to the consensus estimate of $68.18 million. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 9.42%. During the same period in the previous year, the company earned $0.38 earnings per share. On average, equities analysts predict that Pacific Premier Bancorp will post $1.68 earnings per share for the current fiscal year.
In related news, Chairman Steven R. Gardner sold 16,666 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $35.57, for a total value of $592,809.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Simone Lagomarsino sold 6,250 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $36.25, for a total value of $226,562.50. The disclosure for this sale can be found here. Insiders have sold a total of 35,416 shares of company stock worth $1,271,247 over the last three months. Insiders own 4.59% 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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