Brokerages Set Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Price Target at $26.83

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

PPBI has been the subject of several research analyst reports. Wedbush decreased their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday. Raymond James upped their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Stephens upped their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th.

Insider Buying and Selling

In related news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PPBI. Vanguard Group Inc. grew its position in Pacific Premier Bancorp by 0.6% during 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 grew its position in Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after buying an additional 238,854 shares during the period. American Century Companies Inc. grew its position in Pacific Premier Bancorp by 6.1% during the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after buying an additional 242,721 shares during the period. Victory Capital Management Inc. grew its position in Pacific Premier Bancorp by 8.5% during the second quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock worth $35,979,000 after buying an additional 122,285 shares during the period. Finally, William Blair Investment Management LLC grew its position in Pacific Premier Bancorp by 56.0% during the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after buying an additional 477,167 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $25.09 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. Pacific Premier Bancorp has a 1 year low of $18.60 and a 1 year high of $30.13. The company has a market capitalization of $2.42 billion, a PE ratio of -627.09 and a beta of 1.22. The company has a fifty day moving average of $25.09 and a two-hundred day moving average of $23.84.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data 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 business had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same period in the previous year, the company earned $0.48 EPS. As a group, analysts expect that Pacific Premier Bancorp will post 1.64 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be issued a $0.33 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.26%. Pacific Premier Bancorp’s payout ratio is -3,299.18%.

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.