Pacific Premier Bancorp (NASDAQ:PPBI) Stock Price Up 4.6% After Better-Than-Expected Earnings

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)’s stock price traded up 4.6% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $25.62 and last traded at $25.55. 118,019 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 393,871 shares. The stock had previously closed at $24.42.

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

Analyst Ratings Changes

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

Insider Transactions at Pacific Premier Bancorp

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPBI. GAMMA Investing LLC raised its stake in shares of Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 649 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Pacific Premier Bancorp during the third quarter worth approximately $60,000. KBC Group NV increased its holdings in shares of Pacific Premier Bancorp by 30.0% in the third 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 in the last quarter. FMR LLC boosted its holdings in Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares during the last quarter. Finally, Point72 DIFC Ltd grew its position in shares of Pacific Premier Bancorp by 202.9% during the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after buying an additional 5,336 shares during the period. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Trading Up 4.6 %

The business has a 50 day moving average price of $26.15 and a 200 day moving average price of $25.68. 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 company has a market capitalization of $2.46 billion, a P/E ratio of -170.29 and a beta of 1.26.

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.