Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $26.50.

A number of research analysts recently commented on the stock. Raymond James boosted their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stephens upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

Pacific Premier Bancorp Trading Down 0.6 %

Pacific Premier Bancorp stock opened at $26.04 on Wednesday. The firm has a 50-day moving average price of $25.14 and a two-hundred day moving average price of $23.92. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 200.31 and a beta of 1.22. Pacific Premier Bancorp has a 52-week low of $18.60 and a 52-week high of $30.13. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last released 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 company had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same quarter in the prior year, the firm earned $0.48 EPS. Sell-side analysts expect that Pacific Premier Bancorp will post 1.64 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be issued a $0.33 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.07%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.38%.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the sale, the director now owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of institutional investors have recently modified their holdings of PPBI. William Blair Investment Management LLC raised its stake in shares of Pacific Premier Bancorp by 56.0% during the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock valued at $31,891,000 after acquiring an additional 477,167 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in Pacific Premier Bancorp in the first quarter valued at approximately $7,812,000. Assenagon Asset Management S.A. raised its holdings in Pacific Premier Bancorp by 61.6% during the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after buying an additional 245,771 shares during the last quarter. American Century Companies Inc. lifted its position in Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after acquiring an additional 242,721 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pacific Premier Bancorp by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after purchasing an additional 238,854 shares in the last quarter. 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.