Pacific Premier Bancorp (NASDAQ:PPBI) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, November 14th.
A number of other equities research analysts also recently weighed in on PPBI. BidaskClub downgraded Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Stephens downgraded Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $49.00 price objective on shares of Pacific Premier Bancorp in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $45.00.
Shares of Pacific Premier Bancorp (PPBI) traded up $0.38 during midday trading on Tuesday, reaching $39.97. The company’s stock had a trading volume of 478,338 shares, compared to its average volume of 701,097. The company has a market cap of $1,847.64, a P/E ratio of 20.93, a P/E/G ratio of 2.98 and a beta of 0.83. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp has a 52 week low of $31.75 and a 52 week high of $42.55.
In other news, President Edward Earl Wilcox sold 25,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $32.81, for a total transaction of $820,250.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Zareh Hovik Sarrafian bought 1,500 shares of the stock in a transaction dated Thursday, September 7th. The shares were purchased at an average price of $32.65 per share, for a total transaction of $48,975.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 77,500 shares of company stock valued at $2,714,150. Insiders own 4.59% of the company’s stock.
Several hedge funds have recently modified their holdings of PPBI. Citigroup Inc. raised its position in shares of Pacific Premier Bancorp by 664.8% in the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,646 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Pacific Premier Bancorp in the 2nd quarter valued at about $113,000. Ameritas Investment Partners Inc. increased its position in Pacific Premier Bancorp by 52.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,177 shares in the last quarter. North Star Investment Management Corp. bought a new stake in Pacific Premier Bancorp during the 2nd quarter worth approximately $133,000. Finally, BNP Paribas Arbitrage SA increased its holdings in Pacific Premier Bancorp by 4,866.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 3,942 shares in the last quarter. 71.87% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece of content was published by BBNS and is the property of of BBNS. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://baseballnewssource.com/markets/pacific-premier-bancorp-inc-ppbi-rating-lowered-to-hold-at-valuengine/1782598.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Pacific Premier Bancorp Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Premier Bancorp Inc and related companies with our FREE daily email newsletter.