ValuEngine Downgrades Pacific Premier Bancorp (PPBI) to Sell

ValuEngine lowered shares of Pacific Premier Bancorp (NASDAQ:PPBI) from a hold rating to a sell rating in a research report released on Monday morning.

Several other analysts have also recently issued reports on PPBI. BidaskClub cut Pacific Premier Bancorp from a buy rating to a hold rating in a report on Friday, March 23rd. Zacks Investment Research cut Pacific Premier Bancorp from a strong-buy rating to a hold rating in a report on Tuesday, April 17th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $48.67.

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Shares of PPBI opened at $38.00 on Monday. The company has a market cap of $1.75 billion, a PE ratio of 21.47, a PEG ratio of 1.77 and a beta of 0.74. Pacific Premier Bancorp has a 1 year low of $32.05 and a 1 year high of $46.05. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.02 and a current ratio of 1.03.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, May 1st. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.01). The firm had revenue of $88.95 million for the quarter, compared to analysts’ expectations of $89.10 million. Pacific Premier Bancorp had a return on equity of 8.57% and a net margin of 22.48%. During the same period last year, the company earned $0.34 earnings per share. equities analysts forecast that Pacific Premier Bancorp will post 2.66 EPS for the current fiscal year.

In other news, Chairman Steven R. Gardner sold 37,438 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $41.43, for a total transaction of $1,551,056.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.59% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sciencast Management LP bought a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at approximately $202,000. Quadrature Capital Ltd bought a new position in Pacific Premier Bancorp in the 1st quarter valued at $204,000. OppenheimerFunds Inc. bought a new position in Pacific Premier Bancorp in the 4th quarter valued at $216,000. Citadel Advisors LLC bought a new position in Pacific Premier Bancorp in the 4th quarter valued at $227,000. Finally, Amalgamated Bank bought a new position in Pacific Premier Bancorp in the 4th quarter valued at $227,000. 85.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.