Brokerages Set Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Price Target at $26.50

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.50.

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

Pacific Premier Bancorp Stock Performance

PPBI stock opened at $27.66 on Friday. The firm has a 50 day simple moving average of $25.78 and a 200 day simple moving average of $24.46. The stock has a market cap of $2.67 billion, a P/E ratio of -184.39 and a beta of 1.21. Pacific Premier Bancorp has a 52 week low of $20.52 and a 52 week high of $30.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same period last year, the firm posted $0.48 earnings per share. Research analysts anticipate that Pacific Premier Bancorp will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio is -879.94%.

Insider Activity

In other news, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now owns 123,794 shares in the company, valued at approximately $2,924,014.28. The trade was a 8.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the company’s 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 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 11.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,023 shares of company stock valued at $1,245,713. 2.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of institutional investors have recently added to or reduced their stakes in PPBI. Azora Capital LP bought a new stake in Pacific Premier Bancorp in the 3rd quarter valued at $12,187,000. Kennedy Capital Management LLC acquired a new stake in shares of Pacific Premier Bancorp during the 1st quarter valued at about $7,812,000. Massachusetts Financial Services Co. MA increased its stake in Pacific Premier Bancorp by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after acquiring an additional 321,716 shares during the period. Assenagon Asset Management S.A. raised its position in Pacific Premier Bancorp by 61.6% in the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after purchasing an additional 245,771 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake 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 purchasing an additional 242,721 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

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.