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

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

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

Insider Activity

In other news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares in the company, valued at approximately $2,924,014.28. This represents a 8.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the sale, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. This trade represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Large investors have recently modified their holdings of the stock. Neo Ivy Capital Management acquired a new stake in Pacific Premier Bancorp during the third quarter valued at approximately $1,082,000. Geode Capital Management LLC raised its position 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 valued at $57,960,000 after acquiring an additional 25,964 shares in the last quarter. Barclays PLC lifted its stake in Pacific Premier Bancorp by 71.4% during the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock worth $5,123,000 after purchasing an additional 84,859 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in Pacific Premier Bancorp by 58.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 44,904 shares of the financial services provider’s stock worth $1,130,000 after purchasing an additional 16,565 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Pacific Premier Bancorp by 85.4% in the third quarter. Jane Street Group LLC now owns 151,020 shares of the financial services provider’s stock worth $3,800,000 after purchasing an additional 69,546 shares during the period. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $28.73 on Friday. Pacific Premier Bancorp has a fifty-two week low of $20.52 and a fifty-two week high of $30.13. The firm’s 50 day moving average is $26.04 and its two-hundred day moving average is $24.55. The company has a market cap of $2.77 billion, a P/E ratio of -191.52 and a beta of 1.21. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the prior year, the firm earned $0.48 EPS. Analysts expect that Pacific Premier Bancorp will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -879.94%.

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.