Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives Average Recommendation of “Moderate Buy” from Analysts

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has received an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $27.00.

Several analysts recently weighed in on PPBI shares. DA Davidson decreased their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Wedbush reduced their target price on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI opened at $25.98 on Friday. The firm has a fifty day simple moving average of $25.89 and a two-hundred day simple moving average of $25.76. Pacific Premier Bancorp has a 52 week low of $20.52 and a 52 week high of $30.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.51 billion, a P/E ratio of -173.19 and a beta of 1.26.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. On average, analysts expect that Pacific Premier Bancorp will post 1.59 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Monday, February 3rd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date is Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is presently -879.94%.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the sale, the executive vice president now owns 25,475 shares of the company’s stock, valued at $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of Pacific Premier Bancorp during the second quarter valued at approximately $1,762,000. Millennium Management LLC lifted its holdings in Pacific Premier Bancorp by 14.2% during the second quarter. Millennium Management LLC now owns 150,763 shares of the financial services provider’s stock worth $3,463,000 after buying an additional 18,779 shares during the period. The Manufacturers Life Insurance Company boosted its position in Pacific Premier Bancorp by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 53,831 shares of the financial services provider’s stock valued at $1,236,000 after acquiring an additional 2,908 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Pacific Premier Bancorp in the 2nd quarter valued at $667,000. Finally, GAMMA Investing LLC raised its position in shares of Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 649 shares in the last quarter. Hedge funds and other institutional investors 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.