Pacific Premier Bancorp Inc. (PPBI) Reaches New 12-Month High at $26.48
Pacific Premier Bancorp Inc. (NASDAQ:PPBI) reached a new 52-week high during trading on Tuesday . The company traded as high as $26.48 and last traded at $26.47, with a volume of 95,129 shares trading hands. The stock had previously closed at $26.03.
PPBI has been the subject of a number of analyst reports. FBR & Co initiated coverage on Pacific Premier Bancorp in a research report on Thursday, June 30th. They issued an “outperform” rating and a $28.00 price target for the company. DA Davidson increased their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, April 21st. Finally, FIG Partners lowered Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Pacific Premier Bancorp presently has a consensus rating of “Buy” and a consensus price target of $24.67.
The stock’s 50 day moving average is $24.44 and its 200 day moving average is $22.60. The firm has a market capitalization of $733.28 million and a PE ratio of 18.60.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, July 20th. The financial services provider reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.04. On average, equities research analysts predict that Pacific Premier Bancorp Inc. will post $1.56 earnings per share for the current year.
Other hedge funds and institutional investors have made changes to their positions in the company. Russell Frank Co increased its position in shares of Pacific Premier Bancorp by 1.9% in the fourth quarter. Russell Frank Co now owns 107,699 shares of the financial services provider’s stock worth $2,332,000 after buying an additional 1,968 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Pacific Premier Bancorp by 157.0% in the fourth quarter. GSA Capital Partners LLP now owns 60,081 shares of the financial services provider’s stock worth $1,277,000 after buying an additional 36,706 shares during the last quarter. Finally, Argent Capital Management LLC increased its position in shares of Pacific Premier Bancorp by 54.5% in the fourth quarter. Argent Capital Management LLC now owns 135,875 shares of the financial services provider’s stock worth $2,887,000 after buying an additional 47,950 shares during the last quarter.
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Bank’s primary focus market is small and middle market businesses. The Bank offers various deposit products and services, including checking, money market and savings accounts, cash management services, electronic banking services and online bill payment.
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