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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on 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 research note on Friday, October 25th.

Insider Buying and Selling

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’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 transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % 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

A number of hedge funds have recently added to or reduced their stakes in the stock. Natixis Advisors LLC increased its position in shares of Pacific Premier Bancorp by 7.6% in the second quarter. Natixis Advisors LLC now owns 44,236 shares of the financial services provider’s stock valued at $1,016,000 after buying an additional 3,139 shares in the last quarter. Victory Capital Management Inc. raised 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 acquiring an additional 122,285 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Pacific Premier Bancorp by 1.8% in the second quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 482 shares in the last quarter. Quest Partners LLC grew its position in shares of Pacific Premier Bancorp by 3,197.6% in the second quarter. Quest Partners LLC now owns 96,390 shares of the financial services provider’s stock valued at $2,214,000 after purchasing an additional 93,467 shares during the last quarter. Finally, Texas Permanent School Fund Corp grew its position in shares of Pacific Premier Bancorp by 7.3% in the second quarter. Texas Permanent School Fund Corp now owns 90,049 shares of the financial services provider’s stock valued at $2,068,000 after purchasing an additional 6,118 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Down 1.8 %

PPBI stock opened at $24.05 on Monday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -160.32 and a beta of 1.26. The company has a fifty day moving average price of $26.74 and a 200 day moving average price of $25.55. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28.

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

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.49%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

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.