Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives $26.83 Average Price Target from Analysts

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $26.50.

PPBI has been the topic of several analyst reports. Stephens lifted their price target on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Wedbush reduced 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 research report on Friday. Finally, Raymond James lifted their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th.

Pacific Premier Bancorp Trading Up 0.3 %

PPBI opened at $25.09 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The company’s 50 day simple moving average is $25.09 and its two-hundred day simple moving average is $23.84. Pacific Premier Bancorp has a 1-year low of $18.60 and a 1-year high of $30.13. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -627.09 and a beta of 1.22.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results 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 firm had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Analysts expect that Pacific Premier Bancorp will post 1.64 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -3,299.18%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the transaction, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the transaction, the director now owns 123,794 shares in the company, valued at $2,924,014.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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 owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their position. 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

Institutional investors and hedge funds have recently modified their holdings of the company. Fidelis Capital Partners LLC acquired a new position in shares of Pacific Premier Bancorp during the first quarter worth $27,000. GAMMA Investing LLC grew its stake 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 in the last quarter. nVerses Capital LLC grew its stake in shares of Pacific Premier Bancorp by 93.8% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 1,500 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Pacific Premier Bancorp during the second quarter worth $95,000. Finally, Point72 DIFC Ltd grew its stake in shares of Pacific Premier Bancorp by 202.9% during the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 5,336 shares in the last quarter. 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.