Pacific Premier Bancorp (NASDAQ:PPBI) PT Lowered to $25.00 at Wedbush

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective dropped by Wedbush from $27.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price target points to a potential downside of 1.30% from the company’s previous close.

PPBI has been the topic of several other research reports. Stephens lifted their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Raymond James boosted their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI traded up $0.32 during trading on Friday, reaching $25.33. The company had a trading volume of 83,375 shares, compared to its average volume of 542,830. Pacific Premier Bancorp has a twelve month low of $18.60 and a twelve month high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $2.44 billion, a PE ratio of 192.92 and a beta of 1.22. The firm’s fifty day moving average is $25.09 and its 200 day moving average is $23.82.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same period last year, the business posted $0.48 EPS. On average, equities analysts forecast that Pacific Premier Bancorp will post 1.64 EPS for the current year.

Insider Activity at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the sale, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now directly owns 123,794 shares in the company, valued at approximately $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

A number of institutional investors have recently made changes to their positions in PPBI. William Blair Investment Management LLC increased its holdings in shares of Pacific Premier Bancorp by 56.0% in the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock valued at $31,891,000 after purchasing an additional 477,167 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Pacific Premier Bancorp during the 1st quarter worth approximately $7,812,000. Assenagon Asset Management S.A. boosted its stake in Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after purchasing an additional 245,771 shares during the period. American Century Companies Inc. grew its holdings in Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after buying an additional 242,721 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Pacific Premier Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after buying an additional 238,854 shares during the period. Institutional investors own 93.11% of the company’s stock.

About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.