Short Interest in Pacific Premier Bancorp, Inc. (PPBI) Decreases By 29.2%
Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,513,084 shares, a decline of 29.2% from the August 15th total of 4,962,317 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average daily volume of 267,205 shares, the short-interest ratio is presently 13.1 days.
PPBI opened at $38.70 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 1.89 and a beta of 0.72. Pacific Premier Bancorp has a one year low of $34.55 and a one year high of $46.05.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, July 24th. The financial services provider reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). The firm had revenue of $89.32 million for the quarter, compared to analysts’ expectations of $92.28 million. Pacific Premier Bancorp had a return on equity of 8.61% and a net margin of 24.60%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. equities analysts anticipate that Pacific Premier Bancorp will post 2.55 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of PPBI. Wells Fargo & Company MN boosted its position in Pacific Premier Bancorp by 5.6% during the first quarter. Wells Fargo & Company MN now owns 135,430 shares of the financial services provider’s stock worth $5,445,000 after purchasing an additional 7,147 shares in the last quarter. Rhumbline Advisers boosted its position in Pacific Premier Bancorp by 3.1% during the first quarter. Rhumbline Advisers now owns 90,945 shares of the financial services provider’s stock worth $3,656,000 after purchasing an additional 2,755 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Pacific Premier Bancorp during the first quarter worth $355,000. Prudential Financial Inc. boosted its position in Pacific Premier Bancorp by 2.8% during the first quarter. Prudential Financial Inc. now owns 66,356 shares of the financial services provider’s stock worth $2,668,000 after purchasing an additional 1,810 shares in the last quarter. Finally, Swiss National Bank boosted its position in Pacific Premier Bancorp by 3.4% during the first quarter. Swiss National Bank now owns 72,174 shares of the financial services provider’s stock worth $2,901,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors own 74.55% of the company’s stock.
PPBI has been the topic of a number of recent analyst reports. BidaskClub raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Stephens reaffirmed a “hold” rating and set a $43.00 price objective on shares of Pacific Premier Bancorp in a report on Wednesday, July 25th. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Zacks Investment Research lowered Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Pacific Premier Bancorp currently has a consensus rating of “Hold” and an average price target of $48.00.
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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