Pacific Premier Bancorp (NASDAQ:PPBI) Price Target Lowered to $27.00 at Keefe, Bruyette & Woods

Pacific Premier Bancorp (NASDAQ:PPBI) had its price target reduced by Keefe, Bruyette & Woods from $29.00 to $27.00 in a report published on Thursday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

PPBI has been the topic of several other reports. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a research report on Tuesday. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a research note on Monday, January 29th. Raymond James reiterated an outperform rating and issued a $29.00 target price (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Stephens reiterated an equal weight rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, Wedbush reiterated a neutral rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $27.17.

Pacific Premier Bancorp Stock Performance

PPBI traded up $0.08 during trading on Thursday, hitting $22.24. 95,481 shares of the stock were exchanged, compared to its average volume of 527,980. The firm has a market capitalization of $2.13 billion, a P/E ratio of 170.47 and a beta of 1.21. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The stock has a fifty day moving average price of $23.02 and a two-hundred day moving average price of $24.10. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the previous year, the company posted $0.66 earnings per share. As a group, sell-side analysts predict that Pacific Premier Bancorp will post 1.93 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares in the company, valued at approximately $347,007.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC bought a new position in Pacific Premier Bancorp during the fourth quarter valued at about $42,000. Bfsg LLC bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $93,000. Bailard Inc. bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $207,000. FineMark National Bank & Trust bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $234,000. Finally, Vest Financial LLC bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $237,000. 93.11% of the stock is currently owned by 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.