Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives $26.50 Average Target Price from Analysts

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $26.50.

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

Pacific Premier Bancorp Trading Down 1.8 %

PPBI opened at $24.05 on Monday. The business’s 50 day moving average price is $26.74 and its 200 day moving average price is $25.55. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $2.32 billion, a PE ratio of -160.32 and a beta of 1.26. Pacific Premier Bancorp has a one year low of $20.52 and a one year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly 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 firm had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same period in the previous year, the company posted $0.48 EPS. As a group, equities research analysts expect that Pacific Premier Bancorp will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio is currently -880.00%.

Insider Activity

In related news, EVP Michael S. Karr sold 10,290 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction 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. The trade was a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in Pacific Premier Bancorp by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock worth $3,787,000 after acquiring an additional 8,145 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Pacific Premier Bancorp during the third quarter worth about $784,000. Neo Ivy Capital Management acquired a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $1,082,000. Geode Capital Management LLC increased its position in shares of Pacific Premier Bancorp by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock worth $57,960,000 after purchasing an additional 25,964 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Pacific Premier Bancorp by 71.4% in the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after purchasing an additional 84,859 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

About Pacific Premier Bancorp

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.