Yesterday it was reported that a Director at Pacific Premier Bancorp Inc (NASDAQ: PPBI), John Carona, exercised options to buy 15,000 PPBI shares at $15.42 a share, for a total transaction value of $231.3K.
Following this transaction John Carona’s holding in the company was increased by 155.18% to a total of $1.25 million. Following John Carona’s last PPBI Buy transaction on October 31, 2014, the stock climbed by 22.7%.
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Based on Pacific Premier Bancorp Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $101 million and quarterly net profit of $27.3 million. In comparison, last year the company earned revenue of $77.49 million and had a net profit of $14.18 million. PPBI’s market cap is $1.8B and the company has a P/E ratio of 19.07. Currently, Pacific Premier Bancorp Inc has an average volume of 179.4K.
Based on 4 analyst ratings, the analyst consensus is Strong Buy with an average price target of $45.50, reflecting a 17.0% upside. Three different firms, including KBW and Piper Jaffray, currently also have a Buy rating on the stock.
The insider sentiment on Pacific Premier Bancorp Inc has been positive according to 52 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.
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Pacific Premier Bancorp, Inc. operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment. The company was founded in 1997 and is headquartered in Irvine, CA.
