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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $26.83.

Several research analysts recently issued reports on PPBI shares. Raymond James upped their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wedbush lowered their target price on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Stephens lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th.

Pacific Premier Bancorp Trading Up 1.0 %

Shares of NASDAQ:PPBI opened at $24.88 on Friday. Pacific Premier Bancorp has a 12-month low of $17.86 and a 12-month high of $30.13. The business’s fifty day simple moving average is $25.14 and its 200-day simple moving average is $23.51. The company has a market capitalization of $2.40 billion, a PE ratio of 191.38 and a beta of 1.23. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $162.23 million. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities research analysts predict that Pacific Premier Bancorp will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, August 5th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.38%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were 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 of the company’s stock, valued at approximately $2,924,014.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the transaction, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of Pacific Premier Bancorp by 77.3% during the 1st quarter. BNP Paribas Financial Markets now owns 47,301 shares of the financial services provider’s stock valued at $1,135,000 after purchasing an additional 20,619 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at approximately $653,000. Edgestream Partners L.P. purchased a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at approximately $766,000. GSA Capital Partners LLP purchased a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at approximately $858,000. Finally, Hsbc Holdings PLC increased its holdings in Pacific Premier Bancorp by 1,193.1% in the 4th quarter. Hsbc Holdings PLC now owns 223,429 shares of the financial services provider’s stock worth $6,558,000 after acquiring an additional 206,150 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other 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.