Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) traded down 5.4% during trading on Tuesday following a dissappointing earnings announcement. The company traded as low as $28.45 and last traded at $29.94. 1,465,700 shares changed hands during trading, an increase of 259% from the average session volume of 408,536 shares. The stock had previously closed at $31.65.
The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.18). Pacific Premier Bancorp had a return on equity of 8.61% and a net margin of 24.60%. During the same period in the prior year, the firm posted $0.50 earnings per share.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Pacific Premier Bancorp from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, October 17th. ValuEngine cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. BidaskClub cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Finally, Stephens reaffirmed a “hold” rating and set a $43.00 target price on shares of Pacific Premier Bancorp in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average target price of $46.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in PPBI. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Pacific Premier Bancorp during the 2nd quarter valued at $203,000. OppenheimerFunds Inc. purchased a new stake in shares of Pacific Premier Bancorp during the 2nd quarter valued at $209,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Pacific Premier Bancorp during the 1st quarter valued at $319,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Pacific Premier Bancorp during the 2nd quarter valued at $315,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Pacific Premier Bancorp during the 3rd quarter valued at $310,000. 74.57% of the stock is currently owned by institutional investors and hedge funds.
The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.06 billion, a P/E ratio of 16.92, a price-to-earnings-growth ratio of 1.62 and a beta of 0.74.
Pacific Premier Bancorp Company Profile (NASDAQ:PPBI)
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. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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