Analysts Set Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Price Target at $35.00

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have received an average recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $35.00.

PPBI has been the topic of a number of recent research reports. ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Zacks Investment Research upgraded shares of DLH from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. BidaskClub lowered shares of Zebra Technologies from a “hold” rating to a “sell” rating in a research note on Friday, May 24th. Janney Montgomery Scott upgraded shares of Quaker Chemical from a “neutral” rating to a “buy” rating in a research note on Friday, June 7th. Finally, TheStreet upgraded shares of One Group Hospitality from a “d” rating to a “b-” rating in a research note on Tuesday, April 23rd.

Institutional investors have recently bought and sold shares of the stock. Peregrine Capital Management LLC grew its stake in Pacific Premier Bancorp by 25.3% during the second quarter. Peregrine Capital Management LLC now owns 288,602 shares of the financial services provider’s stock worth $8,912,000 after purchasing an additional 58,314 shares during the period. Crossmark Global Holdings Inc. bought a new position in Pacific Premier Bancorp in the 2nd quarter worth $219,000. Amundi Pioneer Asset Management Inc. bought a new position in Pacific Premier Bancorp in the 1st quarter worth $85,000. Marshall Wace LLP bought a new position in Pacific Premier Bancorp in the 1st quarter worth $1,227,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Pacific Premier Bancorp by 28.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,380,842 shares of the financial services provider’s stock worth $36,634,000 after purchasing an additional 301,904 shares during the period. 82.57% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:PPBI traded up $0.15 during trading hours on Friday, reaching $30.77. The stock had a trading volume of 299,311 shares, compared to its average volume of 386,430. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. Pacific Premier Bancorp has a 52 week low of $23.01 and a 52 week high of $40.10. The company’s 50 day moving average price is $30.20. The company has a market capitalization of $1.92 billion, a PE ratio of 12.26, a PEG ratio of 1.50 and a beta of 1.23.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.62. The company had revenue of $119.09 million for the quarter, compared to analyst estimates of $121.55 million. Pacific Premier Bancorp had a return on equity of 8.24% and a net margin of 25.82%. During the same period in the prior year, the company posted $0.62 EPS. Sell-side analysts anticipate that Pacific Premier Bancorp will post 2.56 EPS for the current fiscal year.

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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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