Pacific Premier Bancorp, Inc. (PPBI) Short Interest Down 29.2% in August

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 3,513,084 shares, a decrease of 29.2% from the August 15th total of 4,962,317 shares. Approximately 6.3% of the company’s stock are short sold. Based on an average daily volume of 267,205 shares, the days-to-cover ratio is currently 13.1 days.

PPBI opened at $38.90 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. Pacific Premier Bancorp has a fifty-two week low of $34.30 and a fifty-two week high of $46.05. The stock has a market capitalization of $2.41 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.89 and a beta of 0.72.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). Pacific Premier Bancorp had a return on equity of 8.61% and a net margin of 24.60%. The business had revenue of $89.32 million during the quarter, compared to analyst estimates of $92.28 million. During the same quarter in the prior year, the company earned $0.35 EPS. equities analysts forecast that Pacific Premier Bancorp will post 2.55 EPS for the current fiscal year.

PPBI has been the topic of a number of research analyst reports. BidaskClub raised shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Stephens reissued a “hold” rating and set a $43.00 price objective on shares of Pacific Premier Bancorp in a research report on Wednesday, July 25th. ValuEngine raised shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Zacks Investment Research cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.00.

In other news, Director Don M. Griffith sold 19,245 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $40.02, for a total transaction of $770,184.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Simone Lagomarsino sold 7,828 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $38.58, for a total transaction of $302,004.24. The disclosure for this sale can be found here. 4.59% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sciencast Management LP acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth about $202,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Pacific Premier Bancorp in the 2nd quarter worth about $203,000. Quadrature Capital Ltd acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth about $204,000. OppenheimerFunds Inc. acquired a new stake in shares of Pacific Premier Bancorp in the 2nd quarter worth about $209,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Pacific Premier Bancorp by 132.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,122 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 3,485 shares during the last quarter. Institutional investors own 74.55% of the company’s stock.

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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