Pacific Premier Bancorp (NASDAQ:PPBI) Reaches New 12-Month Low – What’s Next?

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)’s stock price hit a new 52-week low on Thursday . The stock traded as low as $19.56 and last traded at $19.69, with a volume of 196448 shares traded. The stock had previously closed at $21.70.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their target price on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.00.

Pacific Premier Bancorp Price Performance

The business has a fifty day moving average of $23.67 and a 200-day moving average of $25.16. The firm has a market capitalization of $1.90 billion, a P/E ratio of 12.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is presently 80.49%.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several hedge funds have recently added to or reduced their stakes in PPBI. Charles Schwab Investment Management Inc. boosted its stake in shares of Pacific Premier Bancorp by 4.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider’s stock worth $32,461,000 after buying an additional 52,962 shares during the last quarter. FMR LLC increased its stake in shares of Pacific Premier Bancorp by 11.9% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Pacific Premier Bancorp by 0.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 274,045 shares of the financial services provider’s stock valued at $6,895,000 after acquiring an additional 1,352 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of Pacific Premier Bancorp by 226.9% during the third quarter. Verition Fund Management LLC now owns 59,781 shares of the financial services provider’s stock worth $1,504,000 after purchasing an additional 41,491 shares during the period. Finally, Paloma Partners Management Co bought a new position in Pacific Premier Bancorp during the 3rd quarter worth $297,000. Institutional investors and hedge funds 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.