Keefe, Bruyette & Woods Trims Pacific Premier Bancorp (NASDAQ:PPBI) Target Price to $27.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective cut by Keefe, Bruyette & Woods from $29.00 to $27.00 in a report released on Thursday, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other equities analysts have also recently commented on the stock. Stephens reiterated an equal weight rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Raymond James reiterated an outperform rating and set a $29.00 target price (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. StockNews.com upgraded shares of Pacific Premier Bancorp to a sell rating in a research note on Tuesday, April 23rd. TheStreet cut shares of Pacific Premier Bancorp from a b- rating to a c+ rating in a research note on Monday, January 29th. Finally, Wedbush reissued a neutral rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of Hold and a consensus target price of $27.17.

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock opened at $21.98 on Thursday. The firm has a fifty day simple moving average of $22.90 and a 200-day simple moving average of $24.10. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business 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 period in the previous year, the company earned $0.66 earnings per share. On average, sell-side analysts expect that Pacific Premier Bancorp will post 1.89 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.01%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the acquisition, the director now owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several large investors have recently made changes to their positions in the company. WBI Investments Inc. grew its holdings in shares of Pacific Premier Bancorp by 4.8% in the 3rd quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 708 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Pacific Premier Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 1,052 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Pacific Premier Bancorp in the 4th quarter worth about $42,000. Teza Capital Management LLC grew its holdings in Pacific Premier Bancorp by 13.6% during the 3rd quarter. Teza Capital Management LLC now owns 13,417 shares of the financial services provider’s stock worth $292,000 after acquiring an additional 1,610 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Pacific Premier Bancorp by 5.8% during the 4th quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock worth $985,000 after acquiring an additional 1,842 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

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.