Pacific Premier Bancorp Inc (PPBI) Receives $43.00 Average Price Target from Analysts
Pacific Premier Bancorp Inc (NASDAQ:PPBI) has been given an average recommendation of “Buy” by the eight brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $43.00.
Several brokerages have commented on PPBI. Stephens downgraded Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 26th. BidaskClub downgraded Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine raised Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the stock a “buy” rating in a research report on Saturday, August 19th.
In other news, Director Zareh Hovik Sarrafian acquired 1,500 shares of the stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $32.65 per share, for a total transaction of $48,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Edward Earl Wilcox sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $32.81, for a total value of $820,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,166 shares of company stock worth $3,245,772. 4.59% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PPBI. Janus Henderson Group PLC bought a new stake in shares of Pacific Premier Bancorp during the second quarter valued at approximately $31,506,000. Wellington Management Group LLP increased its position in shares of Pacific Premier Bancorp by 78.6% during the first quarter. Wellington Management Group LLP now owns 1,906,964 shares of the financial services provider’s stock valued at $73,513,000 after purchasing an additional 839,113 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Pacific Premier Bancorp by 2,947.4% during the second quarter. The Manufacturers Life Insurance Company now owns 634,567 shares of the financial services provider’s stock valued at $23,415,000 after purchasing an additional 613,744 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Pacific Premier Bancorp during the first quarter valued at approximately $17,676,000. Finally, Phocas Financial Corp. increased its position in shares of Pacific Premier Bancorp by 317.5% during the second quarter. Phocas Financial Corp. now owns 495,358 shares of the financial services provider’s stock valued at $18,279,000 after purchasing an additional 376,711 shares during the period. Institutional investors and hedge funds own 82.40% of the company’s stock.
Pacific Premier Bancorp (NASDAQ:PPBI) traded up 2.58% during trading on Friday, hitting $35.80. 203,195 shares of the stock were exchanged. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 24.83 and a beta of 0.73. The stock’s 50 day moving average is $35.34 and its 200-day moving average is $36.27. Pacific Premier Bancorp has a one year low of $24.00 and a one year high of $41.90.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.12). The business had revenue of $72.10 million during the quarter, compared to the consensus estimate of $68.18 million. Pacific Premier Bancorp had a return on equity of 9.42% and a net margin of 19.85%. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, equities research analysts expect that Pacific Premier Bancorp will post $1.68 earnings per share for the current fiscal year.
Pacific Premier Bancorp Company Profile
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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