Pacific Premier Bancorp Inc (NASDAQ: PPBI) shares rose in value on Wednesday January 18 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
Analysts at Zacks Investment Research upgraded shares of Pacific Premier Bancorp Inc (NASDAQ: PPBI) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the stock. The one-year price target of $39.00 is higher than the opening price of $36.55, causing a number of other analysts to report on the company in recent days. Looking back over the last 52 weeks, Pacific Premier Bancorp Inc stock has a high of $37.95. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Yesterday Pacific Premier Bancorp Inc (NASDAQ: PPBI) shares last traded at $36.40, which represents a jump of $0.05 from the previous closing price. Opening at $36.55, they ranged from $35.90 and $36.55 throughout the day.
Pacific Premier Bancorp Inc (NASDAQ: PPBI) currently has a market cap of 1.01B.
Pacific Premier Bancorp Inc (NASDAQ: PPBI) Average Daily Trading Volume
50,883 shares crossed the trading desk yesterday, 84 percent below the norm, out of a total float 26,555,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.
Pacific Premier Bancorp Inc (NASDAQ: PPBI) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Pacific Premier Bancorp Inc (NASDAQ: PPBI) have ranged from $18.32 – 37.95, and the stock now has a 50-day MA of $34.56 and 200-day MA of $28.56. Today’s last price is 4.08%% under the 52 week high of $37.95.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% for 3 consecutive years.
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