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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.50.

A number of analysts have recently commented on PPBI shares. Raymond James upped their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wedbush lowered their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Finally, Stephens lifted their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th.

Pacific Premier Bancorp Trading Up 0.3 %

Shares of Pacific Premier Bancorp stock opened at $27.75 on Friday. Pacific Premier Bancorp has a 12-month low of $20.52 and a 12-month high of $30.13. The company has a 50-day simple moving average of $25.62 and a 200 day simple moving average of $24.37. 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 $2.68 billion, a P/E ratio of -185.00 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same period in the prior year, the company posted $0.48 earnings per share. Research analysts expect that Pacific Premier Bancorp will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.76%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

Insider Buying and Selling

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the sale, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. This trade represents a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 649 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Pacific Premier Bancorp during the third quarter worth $60,000. nVerses Capital LLC lifted its stake in Pacific Premier Bancorp by 93.8% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,500 shares during the last quarter. KBC Group NV grew its position in shares of Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 849 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Pacific Premier Bancorp in the 2nd quarter valued at about $95,000. 93.11% of the stock is owned by institutional investors and hedge funds.

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.