Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives $26.33 Average Target Price from Brokerages

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.33.

Several brokerages have issued reports on PPBI. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday, April 23rd. Piper Sandler lowered their price target on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Raymond James restated an “outperform” rating and set a $25.00 target price (down from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. Finally, Wedbush reissued a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday, April 25th.

Pacific Premier Bancorp Stock Up 0.8 %

Shares of NASDAQ PPBI opened at $22.95 on Wednesday. The stock has a 50 day moving average price of $22.73 and a 200 day moving average price of $24.10. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 177.31 and a beta of 1.21. Pacific Premier Bancorp has a 52-week low of $17.53 and a 52-week 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.

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 net margin of 24.75% and a return on equity of 6.92%. The company had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same period in the prior year, the business earned $0.66 EPS. Sell-side analysts expect that Pacific Premier Bancorp will post 1.79 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is presently 1,015.38%.

Insiders Place Their Bets

In other news, Director Barbara Polsky acquired 1,200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now owns 14,507 shares in the company, valued at approximately $347,007.44. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new position in Pacific Premier Bancorp in the 1st quarter valued at $27,000. GAMMA Investing LLC acquired a new position in Pacific Premier Bancorp during the fourth quarter worth $42,000. Bfsg LLC purchased a new stake in Pacific Premier Bancorp in the 4th quarter valued at $93,000. Versor Investments LP purchased a new position in shares of Pacific Premier Bancorp during the 3rd quarter worth $200,000. Finally, Bailard Inc. purchased a new position in Pacific Premier Bancorp during the fourth quarter worth about $207,000. 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.