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

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Three 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 $26.50.

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

Pacific Premier Bancorp Trading Down 4.6 %

Shares of NASDAQ PPBI opened at $22.95 on Monday. The business has a 50 day simple moving average of $26.66 and a 200 day simple moving average of $25.61. Pacific Premier Bancorp has a 52 week low of $20.52 and a 52 week high of $30.28. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -152.99 and a beta of 1.26. 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 posted 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 for the quarter, compared to the consensus estimate of $153.23 million. During the same period last year, the company earned $0.48 earnings per share. On average, research analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the 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 completion of the sale, the executive vice president now directly owns 25,475 shares of the company’s stock, valued at $712,281. This 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

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in Pacific Premier Bancorp by 121.5% during the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after buying an additional 649 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Pacific Premier Bancorp during the third quarter valued at approximately $60,000. KBC Group NV lifted its position in Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 849 shares during the period. FMR LLC lifted its position in Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 723 shares during the period. Finally, Point72 DIFC Ltd boosted its stake in Pacific Premier Bancorp by 202.9% during the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after buying an additional 5,336 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

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.