Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Short Interest Update

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 1,740,000 shares, a decline of 13.0% from the May 31st total of 2,000,000 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average trading volume of 497,100 shares, the short-interest ratio is presently 3.5 days.

Pacific Premier Bancorp Stock Performance

PPBI stock traded down $0.20 during trading hours on Monday, reaching $22.77. The stock had a trading volume of 112,197 shares, compared to its average volume of 523,890. The stock has a 50-day simple moving average of $22.14 and a 200 day simple moving average of $24.13. Pacific Premier Bancorp has a fifty-two week low of $17.86 and a fifty-two week high of $30.13. The stock has a market capitalization of $2.20 billion, a PE ratio of 174.86 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. During the same quarter in the prior year, the company earned $0.66 EPS. Analysts predict that Pacific Premier Bancorp will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.80%. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, CFO Lori R. Wright sold 4,668 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the transaction, the chief financial officer now directly owns 31,259 shares in the company, valued at approximately $737,399.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC acquired a new stake in Pacific Premier Bancorp during the first quarter worth approximately $27,000. Texas Permanent School Fund Corp lifted its holdings in Pacific Premier Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 83,931 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 1,123 shares during the last quarter. ProShare Advisors LLC boosted its stake in Pacific Premier Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 19,159 shares of the financial services provider’s stock valued at $460,000 after purchasing an additional 1,315 shares during the period. GAMMA Investing LLC acquired a new position in Pacific Premier Bancorp in the 4th quarter valued at $42,000. Finally, SG Americas Securities LLC grew its holdings in Pacific Premier Bancorp by 15.9% in the 1st quarter. SG Americas Securities LLC now owns 11,543 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,580 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

PPBI has been the subject of several research analyst reports. Raymond James reiterated an “outperform” rating and issued a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. Wedbush reiterated a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, May 22nd. DA Davidson reduced their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Finally, Piper Sandler reduced their target price on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, April 29th. 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 company. According to data from MarketBeat, Pacific Premier Bancorp currently has an average rating of “Hold” and an average price target of $26.33.

Pacific Premier Bancorp Company Profile

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.