Pacific Premier Bancorp (NASDAQ:PPBI) Shares Gap Down – Time to Sell?

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $25.87, but opened at $25.12. Pacific Premier Bancorp shares last traded at $24.25, with a volume of 25,136 shares changing hands.

Analyst Ratings Changes

PPBI has been the topic of a number of research analyst reports. Wedbush reduced their target price on Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Stephens raised their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, Raymond James lifted their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average price target of $26.83.

Pacific Premier Bancorp Price Performance

The firm has a 50-day simple moving average of $25.08 and a two-hundred day simple moving average of $23.81. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 186.54 and a beta of 1.22. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $162.23 million. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, analysts predict that Pacific Premier Bancorp, Inc. will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the transaction, the chief operating officer now owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of Pacific Premier Bancorp by 1.8% in the second quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 482 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Pacific Premier Bancorp by 0.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock worth $1,742,000 after acquiring an additional 631 shares during the period. GAMMA Investing LLC increased 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 acquiring an additional 649 shares during the period. Linden Thomas Advisory Services LLC raised its position in shares of Pacific Premier Bancorp by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after buying an additional 858 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Pacific Premier Bancorp by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock worth $1,114,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 93.11% 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 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.