Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $26.33.

Several research firms recently issued reports on PPBI. Keefe, Bruyette & Woods decreased their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a research report on Thursday, April 25th. DA Davidson reduced their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Raymond James reaffirmed an “outperform” rating and set a $25.00 price target (down from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. Finally, Piper Sandler dropped their price objective on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total value of $110,118.12. Following the sale, the chief financial officer now directly owns 31,259 shares in the company, valued at $737,399.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.21% of the stock is owned by company insiders.

Institutional Trading of Pacific Premier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Pacific Premier Bancorp in the fourth quarter worth approximately $34,788,000. William Blair Investment Management LLC grew its holdings in Pacific Premier Bancorp by 56.0% during the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock valued at $31,891,000 after purchasing an additional 477,167 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Pacific Premier Bancorp during the first quarter valued at approximately $7,812,000. Schroder Investment Management Group acquired a new position in Pacific Premier Bancorp during the third quarter valued at approximately $6,264,000. Finally, Eagle Asset Management Inc. grew its holdings in Pacific Premier Bancorp by 1,724.3% during the fourth quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock valued at $8,517,000 after purchasing an additional 276,538 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $21.07 on Thursday. Pacific Premier Bancorp has a twelve month low of $17.86 and a twelve month high of $30.13. The company has a market capitalization of $2.03 billion, a P/E ratio of 162.09 and a beta of 1.24. The firm has a 50-day moving average price of $22.14 and a two-hundred day moving average price of $24.36. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly 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 6.92%. The company had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same period last year, the company earned $0.66 EPS. As a group, research analysts expect that Pacific Premier Bancorp will post 1.78 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend was Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 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.