Pacific Premier Bancorp (PPBI) Rating Lowered to Strong Sell at BidaskClub

Pacific Premier Bancorp (NASDAQ:PPBI) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

PPBI has been the subject of several other reports. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.00.

Shares of PPBI opened at $31.30 on Tuesday. Pacific Premier Bancorp has a 52 week low of $26.70 and a 52 week high of $46.05. The firm has a market capitalization of $1.93 billion, a PE ratio of 17.68, a PEG ratio of 1.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.05 and a quick ratio of 1.05.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.01). The company had revenue of $120.26 million for the quarter, compared to the consensus estimate of $121.43 million. Pacific Premier Bancorp had a return on equity of 8.54% and a net margin of 23.18%. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, analysts expect that Pacific Premier Bancorp will post 2.45 EPS for the current year.

In related news, Director Don M. Griffith sold 19,245 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $40.02, for a total transaction of $770,184.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ronald J. Jr. Nicolas bought 1,000 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were bought at an average cost of $29.39 per share, with a total value of $29,390.00. The disclosure for this purchase can be found here. 4.12% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Pacific Premier Bancorp by 11.3% during the 3rd quarter. BlackRock Inc. now owns 6,598,835 shares of the financial services provider’s stock worth $245,478,000 after purchasing an additional 669,235 shares during the last quarter. Vanguard Group Inc. grew its holdings in Pacific Premier Bancorp by 60.2% during the 3rd quarter. Vanguard Group Inc. now owns 5,271,251 shares of the financial services provider’s stock worth $196,091,000 after acquiring an additional 1,980,341 shares during the period. Janus Henderson Group PLC grew its holdings in Pacific Premier Bancorp by 7.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,932,649 shares of the financial services provider’s stock worth $146,295,000 after acquiring an additional 258,127 shares during the period. Dimensional Fund Advisors LP grew its holdings in Pacific Premier Bancorp by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,084,275 shares of the financial services provider’s stock worth $77,535,000 after acquiring an additional 7,345 shares during the period. Finally, Channing Capital Management LLC grew its holdings in Pacific Premier Bancorp by 5.7% during the 3rd quarter. Channing Capital Management LLC now owns 1,520,861 shares of the financial services provider’s stock worth $56,576,000 after acquiring an additional 81,920 shares during the period. 79.28% of the stock is owned by institutional investors and hedge funds.

About Pacific Premier Bancorp

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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