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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $26.50.

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

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $22.95 on Monday. The company’s fifty day simple moving average is $26.71 and its 200-day simple moving average is $25.54. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp has a 52 week low of $20.52 and a 52 week high of $30.28. The company has a market cap of $2.21 billion, a PE ratio of -152.99 and a beta of 1.26.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 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 the consensus estimate of $153.23 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. As a group, equities research analysts anticipate that Pacific Premier Bancorp will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 5.75%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -880.00%.

Insider Buying and Selling

In other news, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now owns 79,474 shares in the company, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction that occurred on 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 owns 25,475 shares of the company’s stock, valued at $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 121.5% during the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 649 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Pacific Premier Bancorp during the 3rd quarter valued at about $60,000. KBC Group NV raised its stake in Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 849 shares during the period. FMR LLC lifted its holdings in Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 723 shares during the last quarter. Finally, Point72 DIFC Ltd boosted its stake in Pacific Premier Bancorp by 202.9% in the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 5,336 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.