Pacific Premier Bancorp (NASDAQ:PPBI) PT Lowered to $27.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective lowered by investment analysts at DA Davidson from $32.00 to $27.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price would indicate a potential upside of 22.84% from the company’s current price. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.43 EPS and FY2025 earnings at $2.03 EPS.

Other analysts have also recently issued research reports about the stock. Raymond James reissued an “outperform” rating and issued a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. Wedbush reiterated a “neutral” rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a research note on Thursday. Stephens reiterated an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday. Finally, TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. One 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’s stock. According to data from MarketBeat, Pacific Premier Bancorp presently has an average rating of “Hold” and an average price target of $27.17.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI opened at $21.98 on Thursday. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 169.09 and a beta of 1.21. The firm’s fifty day moving average is $22.96 and its two-hundred day moving average is $24.08.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The firm had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. During the same quarter in the prior year, the firm earned $0.66 EPS. Research analysts expect that Pacific Premier Bancorp will post 1.93 EPS for the current year.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the acquisition, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Peregrine Capital Management LLC lifted its stake in Pacific Premier Bancorp by 5.4% in the first quarter. Peregrine Capital Management LLC now owns 279,500 shares of the financial services provider’s stock valued at $6,708,000 after acquiring an additional 14,269 shares during the last quarter. Verdence Capital Advisors LLC increased its position in Pacific Premier Bancorp by 19.8% during the first quarter. Verdence Capital Advisors LLC now owns 13,342 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 2,201 shares during the period. Assenagon Asset Management S.A. increased its holdings in Pacific Premier Bancorp by 11.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 540,267 shares of the financial services provider’s stock valued at $12,966,000 after buying an additional 55,357 shares during the period. Vanguard Group Inc. increased its holdings in Pacific Premier Bancorp by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after buying an additional 65,694 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Pacific Premier Bancorp by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock valued at $9,321,000 after buying an additional 44,919 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

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.