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

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBIGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Three research 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 analysts that have covered the stock in the last year is $26.50.

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

Check Out Our Latest Research Report on PPBI

Pacific Premier Bancorp Trading Up 0.5 %

NASDAQ:PPBI opened at $27.30 on Thursday. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -181.99 and a beta of 1.24. 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 company’s 50 day moving average price is $27.00 and its 200-day moving average price is $25.08. Pacific Premier Bancorp has a 52 week low of $20.52 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBIGet Free Report) last issued its 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 business had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same quarter last year, the company posted $0.48 EPS. On average, equities research analysts forecast that Pacific Premier Bancorp will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is currently -879.94%.

Insider Activity at Pacific Premier Bancorp

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC increased its stake in shares of Pacific Premier Bancorp by 22.0% in the 3rd quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock worth $5,903,000 after purchasing an additional 42,357 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Pacific Premier Bancorp by 4.4% in 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 in the last quarter. Renaissance Technologies LLC raised its stake in shares of Pacific Premier Bancorp by 53.3% in the second quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock worth $5,114,000 after buying an additional 77,400 shares during the period. Azora Capital LP purchased a new position in shares of Pacific Premier Bancorp during the 3rd quarter valued at about $12,187,000. Finally, SG Americas Securities LLC grew its stake in shares of Pacific Premier Bancorp by 215.7% during the 2nd quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock valued at $837,000 after acquiring an additional 24,893 shares during the period. 93.11% of the stock is currently owned by institutional investors.

About Pacific Premier Bancorp

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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.

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