Pacific Premier Bancorp (PPBI) is Downgraded by FBR & Co. to Mkt Perform

Pacific Premier Bancorp (PPBI) was Downgraded by FBR & Co. to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. FBR & Co. advised their investors in a research report released on Oct 11, 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 .Pacific Premier Bancorp was Downgraded by FIG Partners to ” Market Perform” on Jul 21, 2016.

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 opened for trading at $27.15 and hit $27.69 on the upside on Friday, eventually ending the session at $27.64, with a gain of 1.96% or 0.53 points. The heightened volatility saw the trading volume jump to 97,702 shares. Company has a market cap of $764 M.

In a different news, on Aug 22, 2016, Joseph L Garrett (director) purchased 600 shares at $26.70 per share price. According to the SEC, on Aug 8, 2016, Cora M Tellez (director) purchased 880 shares at $25.88 per share price. On Aug 5, 2016, Kenneth A Boudreau (director) purchased 1,500 shares at $24.00 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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