Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives $26.33 Average Price Target from Brokerages

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $26.33.

A number of equities research analysts have recently issued reports on the company. DA Davidson dropped their price target on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods dropped their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Thursday, April 25th. Wedbush restated a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. Finally, Raymond James reissued an “outperform” rating and issued a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th.

Insider Buying and Selling

In other news, Director Barbara Polsky bought 1,200 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. WBI Investments Inc. grew its holdings in shares of Pacific Premier Bancorp by 4.8% in the third quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock valued at $334,000 after purchasing an additional 708 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Pacific Premier Bancorp by 7.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 1,052 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Pacific Premier Bancorp during the first quarter worth $27,000. Texas Permanent School Fund Corp raised its stake in shares of Pacific Premier Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 83,931 shares of the financial services provider’s stock valued at $2,014,000 after acquiring an additional 1,123 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Pacific Premier Bancorp in the fourth quarter valued at $42,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Down 0.8 %

NASDAQ PPBI opened at $22.97 on Wednesday. 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 0.90 and a current ratio of 0.90. The business has a fifty day moving average price of $22.71 and a 200 day moving average price of $24.17. The company has a market cap of $2.21 billion, a P/E ratio of 176.71 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share 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 6.92%. The firm had revenue of $239.21 million for the quarter, compared to the consensus estimate of $166.98 million. During the same period last year, the firm posted $0.66 earnings per share. Research analysts anticipate that Pacific Premier Bancorp will post 1.79 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.46%.

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.