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

Pacific Premier Bancorp (NASDAQ:PPBI) had its price target reduced by research analysts at DA Davidson from $32.00 to $27.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price points to a potential upside of 21.84% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. TheStreet cut shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods dropped 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. Raymond James restated an “outperform” rating and set a $25.00 target price (down from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday. Finally, Wedbush reiterated a “neutral” rating and set a $25.00 price target 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 given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.17.

Pacific Premier Bancorp Stock Down 2.6 %

Shares of PPBI traded down $0.58 during mid-day trading on Thursday, hitting $22.16. The company’s stock had a trading volume of 719,353 shares, compared to its average volume of 533,225. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 73.87 and a beta of 1.21. The company’s 50-day moving average is $23.04 and its 200-day moving average is $24.11. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Pacific Premier Bancorp has a 52-week low of $17.53 and a 52-week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results 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. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. The business had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same quarter last year, the firm earned $0.66 EPS. On average, equities research analysts forecast that Pacific Premier Bancorp will post 1.96 EPS for the current fiscal year.

Insider Activity

In related news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the transaction, the director now owns 14,507 shares in the company, valued at approximately $347,007.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in Pacific Premier Bancorp during the fourth quarter valued at approximately $42,000. Bfsg LLC acquired a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at about $93,000. Bailard Inc. purchased a new stake in Pacific Premier Bancorp during the 4th quarter worth approximately $207,000. FineMark National Bank & Trust acquired a new position in Pacific Premier Bancorp during the 4th quarter valued at about $234,000. Finally, Vest Financial LLC acquired a new stake in Pacific Premier Bancorp during the 4th quarter worth about $237,000. Institutional investors and hedge funds 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.