Raymond James lowered the firm’s price target on Pacific Premier to $25 from $29 and keeps an Outperform rating on the shares. The name fits squarely in the firm’s Defense-at-a-Reasonable price bucket, the analyst tells investors in a research note. The bank remains an aggressive manager of credit and continues to proactively address potential issues, resulting in the active sale of special mention/substandard loans and also maintains an elevated loan loss reserve ratio, as well as a fortress-like balance sheet, which provides significant optionality, Raymond James says.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PPBI:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue