Pacific Premier Bancorp (NASDAQ:PPBI) Trading 4.6% Higher Following Earnings Beat

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) rose 4.6% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $25.62 and last traded at $25.55. Approximately 118,019 shares were traded during trading, a decline of 70% from the average daily volume of 393,871 shares. The stock had previously closed at $24.42.

The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03.

Analyst Upgrades and Downgrades

Separately, Wedbush dropped their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.50.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the sale, the executive vice president now owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 649 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Pacific Premier Bancorp during the 3rd quarter valued at $60,000. KBC Group NV increased its position in shares of Pacific Premier Bancorp by 30.0% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 849 shares during the period. FMR LLC increased its position in shares of Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 723 shares during the period. Finally, Point72 DIFC Ltd grew its holdings in shares of Pacific Premier Bancorp by 202.9% in the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 5,336 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Up 2.0 %

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -166.12 and a beta of 1.26. The stock has a fifty day moving average of $26.09 and a 200-day moving average of $25.68.

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.