Pacific Premier Bancorp (PPBI) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of Pacific Premier Bancorp (NASDAQ:PPBI) from a buy rating to a hold rating in a report released on Thursday, January 4th.
According to Zacks, “LIFE Financial Corporation is a savings and loan holding company for Life Bank. The company originates, purchases, sells, securitizes and services primarily non-conventional mortgage loans principally secured by first and second mortgages on one- to four-family residences. The Company makes Liberator Series loans, which are for the purchase of residential real property by borrowers who generally would not qualify for Fannie Mae or Freddie Mac loans, and Portfolio Series loans, which is debt consolidation loans for borrowers whose credit history qualifies them. “
PPBI has been the subject of several other research reports. ValuEngine downgraded shares of Pacific Premier Bancorp from a buy rating to a hold rating in a research report on Tuesday, November 14th. Piper Jaffray Companies restated a buy rating and set a $49.00 price objective on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Pacific Premier Bancorp has an average rating of Hold and a consensus price target of $44.75.
In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average price of $36.97 per share, for a total transaction of $92,425.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 4.59% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Pacific Premier Bancorp by 9.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,340 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 460 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Pacific Premier Bancorp by 18.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 6,555 shares of the financial services provider’s stock valued at $242,000 after buying an additional 1,000 shares during the period. Ameritas Investment Partners Inc. increased its stake in Pacific Premier Bancorp by 52.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,177 shares during the period. American International Group Inc. increased its stake in Pacific Premier Bancorp by 8.1% in the 3rd quarter. American International Group Inc. now owns 26,281 shares of the financial services provider’s stock valued at $992,000 after buying an additional 1,966 shares during the period. Finally, 1st Global Advisors Inc. increased its stake in Pacific Premier Bancorp by 16.3% in the 2nd quarter. 1st Global Advisors Inc. now owns 16,682 shares of the financial services provider’s stock valued at $616,000 after buying an additional 2,343 shares during the period. Hedge funds and other institutional investors own 71.87% of the company’s stock.
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Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.
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