StockNews.com Initiates Coverage on Pacific Premier Bancorp (NASDAQ:PPBI)

Equities researchers at StockNews.com started coverage on shares of Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) in a note issued to investors on Thursday. The brokerage set a "sell" rating on the financial services provider's stock.

Separately, DA Davidson lowered Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Pacific Premier Bancorp presently has a consensus rating of "Hold" and an average price target of $27.25.

Pacific Premier Bancorp Stock Down 4.0%

Shares of NASDAQ PPBI opened at $21.22 on Thursday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 12.94 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp has a 52-week low of $18.06 and a 52-week high of $30.28. The business's 50 day moving average is $20.79 and its two-hundred day moving average is $23.91.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. The company had revenue of $144.83 million for the quarter, compared to analyst estimates of $143.25 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. Research analysts predict that Pacific Premier Bancorp will post 1.34 EPS for the current year.

Insiders Place Their Bets

In related news, COO Edward Earl Wilcox sold 14,500 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the sale, the chief operating officer now owns 140,283 shares of the company's stock, valued at $2,844,939.24. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.29% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Pacific Premier Bancorp by 488.3% during the first quarter. Quarry LP now owns 1,459 shares of the financial services provider's stock worth $31,000 after purchasing an additional 1,211 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Pacific Premier Bancorp by 8,794.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 1,583 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Pacific Premier Bancorp by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 741 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Pacific Premier Bancorp by 158.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 1,853 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Pacific Premier Bancorp by 729.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 2,655 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Company Profile

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.

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