Wedbush Cuts Pacific Premier Bancorp (NASDAQ:PPBI) Price Target to $25.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective decreased by investment analysts at Wedbush from $27.00 to $25.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price target suggests a potential downside of 1.30% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Stephens increased their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Raymond James upped their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.50.

Pacific Premier Bancorp Stock Up 1.3 %

Shares of NASDAQ:PPBI traded up $0.32 during trading on Friday, reaching $25.33. 83,375 shares of the stock were exchanged, compared to its average volume of 542,830. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a fifty day moving average of $25.09 and a two-hundred day moving average of $23.82. Pacific Premier Bancorp has a 1-year low of $18.60 and a 1-year high of $30.13. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 192.92 and a beta of 1.22.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. Research analysts anticipate that Pacific Premier Bancorp will post 1.64 earnings per share for the current fiscal year.

Insider Transactions at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC lifted its stake in shares of Pacific Premier Bancorp by 56.0% during the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock valued at $31,891,000 after buying an additional 477,167 shares during the period. Kennedy Capital Management LLC purchased a new position in shares of Pacific Premier Bancorp in the 1st quarter valued at $7,812,000. Assenagon Asset Management S.A. increased its holdings in Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after purchasing an additional 245,771 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Pacific Premier Bancorp by 6.1% during the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after buying an additional 242,721 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after purchasing an additional 238,854 shares during the period. 93.11% of the stock is currently 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.