Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has earned a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $26.33.

A number of equities research analysts recently commented on the stock. DA Davidson lowered their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush reiterated a “neutral” rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Wednesday, May 22nd. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Keefe, Bruyette & Woods lowered their price target on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and set a $25.00 price objective (down from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $21.07 on Thursday. Pacific Premier Bancorp has a one year low of $17.86 and a one year high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50-day simple moving average of $22.14 and a 200 day simple moving average of $24.36. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 162.09 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The firm had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. During the same quarter in the prior year, the business posted $0.66 EPS. On average, research analysts anticipate that Pacific Premier Bancorp will post 1.78 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, May 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend was Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Activity at Pacific Premier Bancorp

In related news, CFO Lori R. Wright sold 4,668 shares of Pacific Premier Bancorp stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction of $110,118.12. Following the transaction, the chief financial officer now owns 31,259 shares in the company, valued at approximately $737,399.81. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.21% of the stock is owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

Hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in Pacific Premier Bancorp during the 4th quarter valued at about $34,788,000. William Blair Investment Management LLC lifted its position in shares of Pacific Premier Bancorp by 56.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 477,167 shares during the period. Kennedy Capital Management LLC purchased a new stake in Pacific Premier Bancorp during the first quarter valued at approximately $7,812,000. Schroder Investment Management Group purchased a new stake in Pacific Premier Bancorp during the third quarter valued at approximately $6,264,000. Finally, Eagle Asset Management Inc. raised its holdings in shares of Pacific Premier Bancorp by 1,724.3% in the fourth quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock worth $8,517,000 after buying an additional 276,538 shares during the last quarter. Hedge funds and other institutional investors 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.