Pacific Premier Bancorp (NASDAQ:PPBI) PT Lowered to $27.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective lowered by Keefe, Bruyette & Woods from $29.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 21.68% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. Wedbush restated a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Thursday. Raymond James restated an “outperform” rating and set a $29.00 target price (up from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Stephens reiterated an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Finally, TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.00.

Pacific Premier Bancorp Stock Performance

Shares of PPBI traded down $0.55 during trading hours on Thursday, hitting $22.19. The company’s stock had a trading volume of 86,368 shares, compared to its average volume of 525,320. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 73.20 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The business has a 50 day simple moving average of $23.04 and a two-hundred day simple moving average of $24.11. Pacific Premier Bancorp has a 52-week low of $17.53 and a 52-week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. 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 business posted $0.66 earnings per share. On average, equities analysts expect that Pacific Premier Bancorp will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction on Thursday, March 21st. The stock was bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the transaction, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Pacific Premier Bancorp by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after purchasing an additional 65,694 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Pacific Premier Bancorp by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after purchasing an additional 131,448 shares in the last quarter. American Century Companies Inc. lifted its holdings in Pacific Premier Bancorp by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after purchasing an additional 198,874 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pacific Premier Bancorp by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after purchasing an additional 207,901 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in Pacific Premier Bancorp by 4.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock valued at $37,198,000 after purchasing an additional 66,113 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.