Pacific Premier Bancorp (NASDAQ:PPBI) Price Target Lowered to $27.00 at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price cut by DA Davidson from $32.00 to $27.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.43 EPS and FY2025 earnings at $2.03 EPS.

Several other analysts have also recently weighed in on the company. Raymond James reaffirmed an outperform rating and issued a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday. Stephens reiterated an equal weight rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods dropped their price target on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating on the stock in a research report on Thursday. Finally, StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $27.17.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI remained flat at $22.16 during trading on Thursday. The stock had a trading volume of 160,924 shares, compared to its average volume of 528,771. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 170.47 and a beta of 1.21. The stock has a fifty day moving average price of $23.02 and a two-hundred day moving average price of $24.10. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the prior year, the company earned $0.66 EPS. Sell-side analysts forecast that Pacific Premier Bancorp will post 1.93 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.96%. Pacific Premier Bancorp’s payout ratio is currently 1,015.46%.

Insider Transactions at Pacific Premier Bancorp

In related news, Director Barbara Polsky acquired 1,200 shares of the stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the purchase, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in Pacific Premier Bancorp by 5.0% in the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after buying an additional 198,874 shares in the last quarter. EJF Capital LLC purchased a new position in Pacific Premier Bancorp in the third quarter valued at $1,632,000. Natixis Advisors L.P. increased its holdings in Pacific Premier Bancorp by 26.5% in the third quarter. Natixis Advisors L.P. now owns 44,958 shares of the financial services provider’s stock valued at $978,000 after buying an additional 9,406 shares in the last quarter. Invesco Ltd. increased its holdings in Pacific Premier Bancorp by 1.8% in the third quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider’s stock valued at $30,299,000 after buying an additional 24,230 shares in the last quarter. Finally, Versor Investments LP purchased a new position in Pacific Premier Bancorp in the third quarter valued at $200,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp Company Profile

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.