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Pacific Premier Bancorp Down 2.9% Since FBR Capital Downgraded One Week Ago (PPBI)

By James Quinn

FBR Capital downgraded Pacific Premier Bancorp (NASDAQ:PPBI) from Outperform to Market Perform a week ago. The stock closed at $26.40, which is 2.9% lower than the price one week ago ($27.20).

Pacific Premier Bancorp (NASDAQ:PPBI) is currently priced 5.9% above its average consensus analyst price target of $24.83. The stock should discover initial support at its 50-day moving average (MA) of $21.58 and subsequent support at its 200-day MA of $20.90.

SmarTrend recommended that subscribers consider buying shares of Pacific Premier Bancorp on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.95. Since that recommendation, shares of Pacific Premier Bancorp have risen 6.0%. We continue to monitor PPBI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst reflections pacific premier bancorp

Ticker(s): PPBI