Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Joseph L. Garrett Buys 500 Shares of Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Joseph L. Garrett acquired 500 shares of the business’s stock in a transaction dated Friday, February 19th. The shares were bought at an average cost of $38.44 per share, for a total transaction of $19,220.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of PPBI stock opened at $39.67 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $35.57 and a 200 day moving average price of $28.12. The company has a market cap of $3.74 billion, a P/E ratio of 94.45 and a beta of 1.36. Pacific Premier Bancorp, Inc. has a 12 month low of $13.93 and a 12 month high of $40.00.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Monday, January 25th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. Pacific Premier Bancorp had a net margin of 5.38% and a return on equity of 5.64%. During the same quarter in the prior year, the company earned $0.69 earnings per share. On average, equities analysts forecast that Pacific Premier Bancorp, Inc. will post 0.58 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Friday, February 5th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Thursday, February 4th. This is an increase from Pacific Premier Bancorp’s previous quarterly dividend of $0.28. Pacific Premier Bancorp’s dividend payout ratio is currently 46.15%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its stake in Pacific Premier Bancorp by 4.3% in the third quarter. Sei Investments Co. now owns 478,519 shares of the financial services provider’s stock valued at $9,629,000 after acquiring an additional 19,732 shares in the last quarter. GW&K Investment Management LLC boosted its stake in Pacific Premier Bancorp by 33.1% in the fourth quarter. GW&K Investment Management LLC now owns 1,338,982 shares of the financial services provider’s stock valued at $41,950,000 after acquiring an additional 332,720 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Pacific Premier Bancorp by 13.2% in the third quarter. CIBC Asset Management Inc now owns 11,307 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 1,317 shares in the last quarter. Comerica Bank boosted its stake in Pacific Premier Bancorp by 12.3% in the third quarter. Comerica Bank now owns 113,997 shares of the financial services provider’s stock valued at $3,035,000 after acquiring an additional 12,468 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Pacific Premier Bancorp by 13.0% in the third quarter. US Bancorp DE now owns 23,563 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 2,708 shares in the last quarter. Institutional investors own 85.17% of the company’s stock.

A number of analysts have recently weighed in on the company. Zacks Investment Research raised Pacific Premier Bancorp from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research report on Saturday, January 30th. Raymond James boosted their target price on shares of Pacific Premier Bancorp from $30.00 to $40.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 27th. Finally, Stephens started coverage on shares of Pacific Premier Bancorp in a research note on Wednesday, November 4th. They set an “overweight” rating for the company. Two research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Strong Buy” and a consensus price target of $33.50.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and passbook savings accounts; and certificates of deposit.

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