Pacific Premier Bancorp (PPBI) is Downgraded by FIG Partners to Market Perform

Pacific Premier Bancorp (PPBI) was Downgraded by FIG Partners to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. FIG Partners advised their investors in a research report released on Jul 21, 2016.

Many Wall Street Analysts have commented on Pacific Premier Bancorp. Company shares were Reiterated by FBR Capital on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 29 from a previous price target of $28 .FBR Capital Initiated Pacific Premier Bancorp on Jul 1, 2016 to “Outperform”, Price Target of the shares are set at $28.

On the company’s financial health, Pacific Premier Bancorp reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $0.42.Analysts expectations of $ 42.32.

Pacific Premier Bancorp closed down -0.925 points or -3.59% at $24.835 with 3,22,308 shares getting traded on Wednesday. Post opening the session at $25.03, the shares hit an intraday low of $23.5 and an intraday high of $25.26 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on May 23, 2016, Joseph L Garrett (director) purchased 600 shares at $23.62 per share price. According to the SEC, on Mar 1, 2016, Tom Rice (COO) purchased 600 shares at $21.48 per share price. On Mar 1, 2016, Kenneth A Boudreau (director) purchased 1,000 shares at $21.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Pacific Premier Bancorp Inc. is a bank holding company. The Company’s wholly owned subsidiary Pacific Premier Bank (the Bank) is a California state-chartered commercial bank. The Bank’s primary focus market is small and middle market businesses. The Bank offers various deposit products and services including checking money market and savings accounts cash management services electronic banking services and online bill payment. The Bank also offers an array of loan products such as commercial business loans lines of credit small business administration loans warehouse credit facilities commercial real estate loans residential home loans construction loans and consumer loans. The Bank primarily conducts business throughout California through a network of around 16 full-service depository branches in the counties of Los Angeles Orange Riverside San Bernardino and San Diego.

Pacific Premier Bancorp

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