Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Get Free Report)'s stock price was up 4.6% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $25.62 and last traded at $25.55. Approximately 118,019 shares were traded during trading, a decline of 70% from the average daily volume of 393,871 shares. The stock had previously closed at $24.42.
The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03.
Separately, Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $26.50.
View Our Latest Research Report on PPBI
In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the sale, the executive vice president now owns 79,474 shares of the company's stock, valued at approximately $2,135,466.38. The trade was a 11.46 % 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.
Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its position in shares of Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock worth $30,000 after purchasing an additional 649 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Pacific Premier Bancorp during the third quarter valued at approximately $60,000. KBC Group NV raised its holdings in Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after purchasing an additional 849 shares during the period. FMR LLC lifted its position in shares of Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock valued at $171,000 after buying an additional 723 shares in the last quarter. Finally, Point72 DIFC Ltd lifted its holdings in Pacific Premier Bancorp by 202.9% during the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider's stock valued at $183,000 after purchasing an additional 5,336 shares in the last quarter. Institutional investors own 93.11% of the company's stock.
The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $26.15 and a 200 day simple moving average of $25.68. The firm has a market capitalization of $2.46 billion, a P/E ratio of -170.29 and a beta of 1.26.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Pacific Premier Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pacific Premier Bancorp wasn't on the list.
While Pacific Premier Bancorp currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.