Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Given Consensus Rating of “Moderate Buy” by Brokerages

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $26.50.

Separately, Wedbush lowered their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $27.96 on Thursday. The stock’s 50-day moving average price is $26.89 and its 200 day moving average price is $25.00. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.70 billion, a PE ratio of -186.40 and a beta of 1.24. Pacific Premier Bancorp has a 52-week low of $20.52 and a 52-week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts forecast that Pacific Premier Bancorp will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.72%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares in the company, valued at approximately $712,281. The trade was a 26.69 % decrease in their position. The sale 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.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of PPBI. GAMMA Investing LLC lifted its stake in Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 649 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Pacific Premier Bancorp during the 3rd quarter valued at $60,000. nVerses Capital LLC grew its holdings in shares of Pacific Premier Bancorp by 93.8% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,500 shares in the last quarter. KBC Group NV increased its stake in shares of Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 849 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Pacific Premier Bancorp during the second quarter worth $95,000. 93.11% of the stock is currently 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 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.