Pacific Premier Bancorp (NASDAQ:PPBI) Shares Gap Down - What's Next?

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Get Free Report) gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Stephens boosted their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. Wedbush dropped their price objective on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 24th. Finally, Raymond James upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $26.83.

Pacific Premier Bancorp Price Performance

The stock has a fifty day moving average of $25.08 and a two-hundred day moving average of $23.81. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 189.08 and a beta of 1.22. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $154.62 million for the quarter, compared to analysts' expectations of $162.23 million. Pacific Premier Bancorp's revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.64 earnings per share for the current year.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares of the company's stock, valued at approximately $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the company's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the sale, the director now owns 123,794 shares of the company's stock, valued at approximately $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Company insiders own 2.21% of the company's stock.

Institutional Trading of Pacific Premier Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC raised its position in shares of Pacific Premier Bancorp by 56.0% during the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider's stock worth $31,891,000 after purchasing an additional 477,167 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Pacific Premier Bancorp during the first quarter worth $7,812,000. Assenagon Asset Management S.A. raised its holdings in shares of Pacific Premier Bancorp by 61.6% in the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider's stock worth $16,214,000 after acquiring an additional 245,771 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Pacific Premier Bancorp by 6.1% in the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider's stock valued at $97,695,000 after acquiring an additional 242,721 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider's stock valued at $129,645,000 after acquiring an additional 238,854 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

About Pacific Premier Bancorp

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.