Pacific Premier Bancorp (NASDAQ:PPBI) Reaches New 52-Week High – Still a Buy?

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.14 and last traded at $30.14, with a volume of 65656 shares trading hands. The stock had previously closed at $28.73.

Wall Street Analyst Weigh In

Separately, Wedbush lowered their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $26.50.

Pacific Premier Bancorp Price Performance

The firm has a market cap of $2.81 billion, a P/E ratio of -194.07 and a beta of 1.21. The company has a fifty day moving average of $26.04 and a 200-day moving average of $24.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period last year, the firm posted $0.48 EPS. On average, sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 4.53%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

Insider Transactions at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp 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 sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. The trade was a 11.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the transaction, the director now owns 123,794 shares in the company, valued at approximately $2,924,014.28. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock worth $1,245,713 in the last 90 days. Insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its position in shares of Pacific Premier Bancorp by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 112,161 shares of the financial services provider’s stock valued at $2,689,000 after purchasing an additional 4,627 shares during the period. Kennedy Capital Management LLC bought a new stake in Pacific Premier Bancorp during the 1st quarter valued at $7,812,000. Linden Thomas Advisory Services LLC lifted its position in shares of Pacific Premier Bancorp by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after acquiring an additional 858 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Pacific Premier Bancorp by 215.7% in the second quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 24,893 shares during the period. Finally, AlphaMark Advisors LLC bought a new position in shares of Pacific Premier Bancorp in the second quarter worth $317,000. Hedge funds and other 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.