Pacific Premier Bancorp (NASDAQ:PPBI) Given New $26.00 Price Target at Piper Sandler

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective decreased by Piper Sandler from $31.00 to $26.00 in a report issued on Monday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also recently issued reports on the company. Stephens reaffirmed an equal weight rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Wedbush reissued a neutral rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. Raymond James reissued an outperform rating and set a $25.00 price objective (down from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. StockNews.com raised Pacific Premier Bancorp to a sell rating in a research note on Tuesday, April 23rd. Finally, Keefe, Bruyette & Woods reduced their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating on the stock in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $26.33.

Pacific Premier Bancorp Trading Up 3.3 %

Shares of PPBI stock opened at $22.22 on Monday. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $30.13. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $22.79 and its 200-day moving average price is $24.12. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 170.40 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same period in the previous year, the firm posted $0.66 earnings per share. Equities research analysts predict that Pacific Premier Bancorp will post 1.84 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be issued a $0.33 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.94%. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Activity at Pacific Premier Bancorp

In other news, Director Barbara Polsky purchased 1,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price 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 of the company’s stock, valued at $347,007.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC bought a new position in Pacific Premier Bancorp in the fourth quarter worth approximately $42,000. Bfsg LLC bought a new position in Pacific Premier Bancorp in the fourth quarter worth approximately $93,000. Versor Investments LP bought a new position in Pacific Premier Bancorp in the third quarter worth approximately $200,000. Bailard Inc. acquired a new position in shares of Pacific Premier Bancorp during the fourth quarter worth $207,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Pacific Premier Bancorp during the first quarter worth $217,000. 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.