Pacific Premier Bancorp (NASDAQ:PPBI) Given New $25.00 Price Target at Wedbush

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price raised by Wedbush from $23.00 to $25.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for Pacific Premier Bancorp’s Q3 2024 earnings at $0.41 EPS, Q4 2024 earnings at $0.41 EPS, FY2024 earnings at $1.74 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.42 EPS and Q4 2025 earnings at $0.45 EPS.

Several other research firms have also recently issued reports on PPBI. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a report on Friday, May 17th. Piper Sandler decreased their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an overweight rating on the stock in a report on Monday, April 29th. DA Davidson decreased their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a buy rating on the stock in a report on Thursday, April 25th. Raymond James restated an outperform rating and set a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods cut their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating on the stock in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp presently has a consensus rating of Hold and a consensus target price of $26.50.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI opened at $26.72 on Thursday. The business’s fifty day moving average price is $22.97 and its two-hundred day moving average price is $23.65. The stock has a market cap of $2.58 billion, a PE ratio of 205.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.89. Pacific Premier Bancorp has a one year low of $17.86 and a one year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $154.62 million for the quarter, compared to analyst estimates of $162.23 million. Pacific Premier Bancorp’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. On average, analysts forecast that Pacific Premier Bancorp will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, August 5th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, CFO Lori R. Wright sold 4,668 shares of Pacific Premier Bancorp 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 sale, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at $737,399.81. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Fidelis Capital Partners LLC purchased a new stake in shares of Pacific Premier Bancorp during the first quarter worth about $27,000. GAMMA Investing LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth about $42,000. Bfsg LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth about $93,000. Bailard Inc. purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth about $207,000. Finally, FineMark National Bank & Trust purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth about $234,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

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.