Pacific Premier Bancorp (NASDAQ:PPBI) Given New $27.00 Price Target at Wedbush

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective reduced by analysts at Wedbush from $28.00 to $27.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Wedbush’s target price indicates a potential upside of 6.93% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Raymond James boosted their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stephens lifted their price objective on 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.83.

Pacific Premier Bancorp Trading Down 0.6 %

NASDAQ:PPBI traded down $0.14 on Tuesday, hitting $25.25. 154,956 shares of the stock were exchanged, compared to its average volume of 550,361. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average of $25.33 and a 200-day moving average of $23.47. The stock has a market cap of $2.43 billion, a PE ratio of 194.15 and a beta of 1.23. Pacific Premier Bancorp has a fifty-two week low of $17.86 and a fifty-two week high of $30.13.

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

Insider Activity at Pacific Premier Bancorp

In other news, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was 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 at this hyperlink. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm’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 $5,448,888.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the sale, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Institutional Trading of Pacific Premier Bancorp

Several hedge funds have recently made changes to their positions in the stock. Fidelis Capital Partners LLC acquired a new stake in Pacific Premier Bancorp during the first quarter valued at approximately $27,000. nVerses Capital LLC increased its stake in shares of Pacific Premier Bancorp by 93.8% during the 2nd 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 during the last quarter. Innealta Capital LLC acquired a new position in Pacific Premier Bancorp during the second quarter worth $95,000. Point72 DIFC Ltd increased its holdings in shares of Pacific Premier Bancorp by 202.9% during the 2nd 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 last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Pacific Premier Bancorp in the 1st quarter valued at $217,000. 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.