Pacific Premier Bancorp (PPBI) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Pacific Premier Bancorp (NASDAQ:PPBI) from a hold rating to a sell rating in a report published on Saturday.

According to Zacks, “LIFE Financial Corporation is a savings and loan holding company for Life Bank. The company originates, purchases, sells, securitizes and services primarily non-conventional mortgage loans principally secured by first and second mortgages on one- to four-family residences. The Company makes Liberator Series loans, which are for the purchase of residential real property by borrowers who generally would not qualify for Fannie Mae or Freddie Mac loans, and Portfolio Series loans, which is debt consolidation loans for borrowers whose credit history qualifies them. “

Several other research analysts also recently weighed in on PPBI. BidaskClub downgraded Pacific Premier Bancorp from a hold rating to a sell rating in a research note on Wednesday, September 26th. ValuEngine downgraded Pacific Premier Bancorp from a hold rating to a sell rating in a research note on Thursday, September 27th. Finally, TheStreet downgraded Pacific Premier Bancorp from a b- rating to a c+ rating in a research note on Friday, December 21st. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $46.00.

Shares of PPBI stock traded up $0.49 during midday trading on Friday, hitting $28.77. The company had a trading volume of 307,462 shares, compared to its average volume of 395,807. Pacific Premier Bancorp has a 52-week low of $23.01 and a 52-week high of $46.05. The company has a market capitalization of $1.80 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.29 and a beta of 1.15. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Pacific Premier Bancorp had a net margin of 23.18% and a return on equity of 8.54%. The company had revenue of $120.26 million during the quarter, compared to analysts’ expectations of $121.43 million. During the same quarter last year, the business posted $0.50 earnings per share. As a group, equities analysts predict that Pacific Premier Bancorp will post 2.45 earnings per share for the current fiscal year.

In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas purchased 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased at an average cost of $28.73 per share, for a total transaction of $28,730.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 3,000 shares of company stock worth $84,840. Company insiders own 4.12% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in Pacific Premier Bancorp by 3.2% during the fourth quarter. State of Alaska Department of Revenue now owns 15,008 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 463 shares in the last quarter. Vanguard Group Inc boosted its position in Pacific Premier Bancorp by 60.2% during the third quarter. Vanguard Group Inc now owns 5,271,251 shares of the financial services provider’s stock worth $196,091,000 after purchasing an additional 1,980,341 shares in the last quarter. Federated Investors Inc. PA boosted its position in Pacific Premier Bancorp by 4.1% during the third quarter. Federated Investors Inc. PA now owns 106,659 shares of the financial services provider’s stock worth $3,968,000 after purchasing an additional 4,215 shares in the last quarter. Vanguard Group Inc. boosted its position in Pacific Premier Bancorp by 60.2% during the third quarter. Vanguard Group Inc. now owns 5,271,251 shares of the financial services provider’s stock worth $196,091,000 after purchasing an additional 1,980,341 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Pacific Premier Bancorp by 20.6% during the third quarter. Legal & General Group Plc now owns 104,435 shares of the financial services provider’s stock worth $3,883,000 after purchasing an additional 17,849 shares in the last quarter. Hedge funds and other institutional investors own 79.26% 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 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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