Pacific Premier Bancorp’s (PPBI) Neutral Rating Reaffirmed at Wedbush

Pacific Premier Bancorp (NASDAQ:PPBI)‘s stock had its “neutral” rating reaffirmed by analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $25.00 price objective on the financial services provider’s stock. Wedbush’s price target points to a potential upside of 9.94% from the company’s current price.

A number of other analysts have also commented on PPBI. Raymond James reissued an “outperform” rating and issued a $29.00 target price (up previously from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday. TheStreet cut shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Finally, Stephens reiterated an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus target price of $27.60.

Pacific Premier Bancorp Price Performance

PPBI opened at $22.74 on Thursday. The firm has a market cap of $2.18 billion, a PE ratio of 75.80 and a beta of 1.21. The stock has a 50-day moving average price of $23.04 and a 200-day moving average price of $24.11. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year high of $30.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. During the same period in the previous year, the firm earned $0.66 earnings per share. Sell-side analysts predict that Pacific Premier Bancorp will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the acquisition, the director now owns 14,507 shares in the company, valued at approximately $347,007.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPBI. WBI Investments Inc. grew its position in shares of Pacific Premier Bancorp by 4.8% during the 3rd quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 708 shares during the period. Hennion & Walsh Asset Management Inc. grew its holdings in Pacific Premier Bancorp by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 1,052 shares during the period. GAMMA Investing LLC purchased a new stake in Pacific Premier Bancorp in the fourth quarter worth about $42,000. Teza Capital Management LLC raised its stake in shares of Pacific Premier Bancorp by 13.6% in the third quarter. Teza Capital Management LLC now owns 13,417 shares of the financial services provider’s stock worth $292,000 after buying an additional 1,610 shares during the period. Finally, Truist Financial Corp lifted its position in shares of Pacific Premier Bancorp by 5.8% during the 4th quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock valued at $985,000 after buying an additional 1,842 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.