DA Davidson Trims Pacific Premier Bancorp (NASDAQ:PPBI) Target Price to $27.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price decreased by DA Davidson from $32.00 to $27.00 in a report published on Thursday, Benzinga reports. DA Davidson currently has a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.43 EPS and FY2025 earnings at $2.03 EPS.

PPBI has been the subject of a number of other research reports. Stephens reiterated an equal weight rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. StockNews.com upgraded shares of Pacific Premier Bancorp to a sell rating in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods reduced their price target 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. Wedbush reaffirmed a neutral rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. Finally, Raymond James reaffirmed an outperform rating and set a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $27.17.

Pacific Premier Bancorp Stock Down 0.8 %

PPBI stock opened at $21.98 on Thursday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 169.09 and a beta of 1.21. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The firm has a 50-day moving average of $22.90 and a two-hundred day moving average of $24.10.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same quarter in the prior year, the firm earned $0.66 EPS. As a group, analysts forecast that Pacific Premier Bancorp will post 1.89 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

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 owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $42,000. Bfsg LLC acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $93,000. Versor Investments LP acquired a new position in shares of Pacific Premier Bancorp in the third quarter worth $200,000. Bailard Inc. acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $207,000. Finally, FineMark National Bank & Trust acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $234,000. 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.