Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBIGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $26.33.

Several research analysts have recently issued reports on PPBI shares. DA Davidson lowered their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Wedbush reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, May 22nd. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Piper Sandler lowered their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th.

Read Our Latest Report on Pacific Premier Bancorp

Pacific Premier Bancorp Stock Up 3.1 %

PPBI stock opened at $21.48 on Thursday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 165.24 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 12 month low of $17.86 and a 12 month high of $30.13. The firm has a 50-day moving average price of $22.10 and a 200-day moving average price of $24.26.

Pacific Premier Bancorp (NASDAQ:PPBIGet Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, equities research analysts anticipate that Pacific Premier Bancorp will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date of this dividend was Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the sale, the chief financial officer now owns 31,259 shares of the company’s stock, valued at approximately $737,399.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

Several large investors have recently modified their holdings of PPBI. Norges Bank acquired a new stake in shares of Pacific Premier Bancorp during the 4th quarter worth approximately $34,788,000. William Blair Investment Management LLC grew its position in shares of Pacific Premier Bancorp by 56.0% during the 1st 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. Kennedy Capital Management LLC acquired a new stake in shares of Pacific Premier Bancorp during the 1st quarter worth approximately $7,812,000. Schroder Investment Management Group acquired a new stake in shares of Pacific Premier Bancorp during the 3rd quarter worth approximately $6,264,000. Finally, Eagle Asset Management Inc. grew its position in shares of Pacific Premier Bancorp by 1,724.3% during the 4th quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock worth $8,517,000 after buying an additional 276,538 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Company Profile

(Get Free Report

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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Analyst Recommendations for Pacific Premier Bancorp (NASDAQ:PPBI)

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