Raymond James Raises Pacific Premier Bancorp (NASDAQ:PPBI) Price Target to $26.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price hoisted by stock analysts at Raymond James from $23.00 to $26.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “strong-buy” rating on the financial services provider’s stock. Raymond James’ target price would indicate a potential upside of 12.07% from the company’s current price.

PPBI has been the topic of several other reports. Wedbush reduced their target price on Pacific Premier Bancorp from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Stephens increased their price objective on shares of Pacific Premier Bancorp from $23.00 to $26.00 in a research note on Monday, July 31st. StockNews.com lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Finally, Piper Sandler upped their price target on shares of Pacific Premier Bancorp from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $25.40.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI opened at $23.20 on Tuesday. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $37.22. The company’s 50 day moving average price is $21.16 and its two-hundred day moving average price is $21.64. The firm has a market cap of $2.22 billion, a PE ratio of 9.24 and a beta of 1.21. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.40.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.07). The company had revenue of $168.10 million during the quarter, compared to the consensus estimate of $174.90 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 8.47%. During the same quarter last year, the firm posted $0.77 earnings per share. Equities research analysts predict that Pacific Premier Bancorp will post 2.19 earnings per share for the current year.

Insider Activity at Pacific Premier Bancorp

In other news, Director Joseph L. Garrett sold 7,500 shares of Pacific Premier Bancorp stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $18.70, for a total transaction of $140,250.00. Following the sale, the director now directly owns 85,426 shares of the company’s stock, valued at $1,597,466.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.31% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Pacific Premier Bancorp by 4.1% during the 2nd quarter. FMR LLC now owns 7,449 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 296 shares in the last quarter. Captrust Financial Advisors boosted its stake in Pacific Premier Bancorp by 4.6% during the second quarter. Captrust Financial Advisors now owns 7,666 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 335 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in Pacific Premier Bancorp by 3.9% in the first quarter. First Republic Investment Management Inc. now owns 10,192 shares of the financial services provider’s stock worth $360,000 after purchasing an additional 380 shares during the period. Ameritas Investment Partners Inc. increased its stake in Pacific Premier Bancorp by 6.7% in the second quarter. Ameritas Investment Partners Inc. now owns 7,842 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 490 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Pacific Premier Bancorp by 29.9% during the first quarter. Advisors Asset Management Inc. now owns 2,201 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 507 shares during the period. 92.02% of the stock is owned by institutional investors.

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 to businesses, professionals, real estate investors, and non-profit organizations in the United States. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.