Pacific Premier Bancorp (NASDAQ:PPBI) Rating Reiterated by Wedbush

Wedbush reaffirmed their neutral rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a research note issued to investors on Thursday, Benzinga reports. Wedbush currently has a $25.00 target price on the financial services provider’s stock. Wedbush also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.46 EPS, Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.85 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.00 EPS.

A number of other equities analysts have also commented on PPBI. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a research note on Monday, January 29th. StockNews.com raised Pacific Premier Bancorp to a sell rating in a research note on Tuesday, April 23rd. Stephens reissued 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. Finally, Raymond James reissued an outperform rating and set a $29.00 price target (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $27.17.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $21.98 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $30.13. The stock has a 50-day moving average price of $22.90 and a 200 day moving average price of $24.10. The stock has a market capitalization of $2.11 billion, a P/E ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. The company had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. During the same period in the prior year, the company earned $0.66 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp will post 1.89 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.01%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Activity

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, March 21st. The shares were purchased at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the acquisition, the director now owns 14,507 shares in the company, valued at approximately $347,007.44. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Pacific Premier Bancorp by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after buying an additional 65,694 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Pacific Premier Bancorp by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock worth $147,527,000 after buying an additional 131,448 shares during the period. American Century Companies Inc. raised its holdings in shares of Pacific Premier Bancorp by 5.0% in the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after buying an additional 198,874 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Pacific Premier Bancorp by 9.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock worth $72,381,000 after buying an additional 207,901 shares during the period. Finally, Brown Advisory Inc. increased its holdings in Pacific Premier Bancorp by 4.0% during the 3rd quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock worth $37,198,000 after purchasing an additional 66,113 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.