Brokerages Set Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Price Target at $26.50

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.50.

Separately, Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

Pacific Premier Bancorp Price Performance

PPBI stock opened at $24.92 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50-day moving average is $27.11 and its 200-day moving average is $25.17. The stock has a market capitalization of $2.40 billion, a PE ratio of -166.12 and a beta of 1.24. Pacific Premier Bancorp has a 1 year low of $20.52 and a 1 year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) 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 firm posted $0.48 EPS. Equities research analysts expect that Pacific Premier Bancorp will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 5.30%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently -880.00%.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the sale, the executive vice president now directly owns 25,475 shares of the company’s stock, valued at approximately $712,281. This represents a 26.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of PPBI. Franklin Resources Inc. purchased a new stake in shares of Pacific Premier Bancorp during the third quarter valued at approximately $784,000. Neo Ivy Capital Management purchased a new stake in shares of Pacific Premier Bancorp during the 3rd quarter valued at $1,082,000. Geode Capital Management LLC raised its stake in shares of Pacific Premier Bancorp by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock worth $57,960,000 after purchasing an additional 25,964 shares during the period. Barclays PLC boosted its holdings in shares of Pacific Premier Bancorp by 71.4% in the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock worth $5,123,000 after buying an additional 84,859 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Pacific Premier Bancorp by 58.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 44,904 shares of the financial services provider’s stock worth $1,130,000 after buying an additional 16,565 shares during the last quarter. 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.