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

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have been given an average rating of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $26.50.

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

Pacific Premier Bancorp Stock Up 1.5 %

Shares of NASDAQ:PPBI opened at $28.02 on Friday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -186.79 and a beta of 1.21. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.13. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $25.95 and a 200 day moving average price of $24.50.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share 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 analyst estimates of $153.23 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities research analysts predict that Pacific Premier Bancorp will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -879.94%.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the sale, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. The trade was a 11.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $259,273.08. Following the completion of the transaction, the executive vice president now directly owns 25,475 shares of the company’s stock, valued at $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,023 shares of company stock valued at $1,245,713 in the last 90 days. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in Pacific Premier Bancorp by 15.9% in the first quarter. SG Americas Securities LLC now owns 11,543 shares of the financial services provider’s stock valued at $277,000 after buying an additional 1,580 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Pacific Premier Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 19,159 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 1,315 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Pacific Premier Bancorp during the first quarter valued at $766,000. CANADA LIFE ASSURANCE Co boosted its holdings in 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 last quarter. Finally, MQS Management LLC acquired a new stake in Pacific Premier Bancorp during the 1st quarter worth about $235,000. 93.11% of the stock is owned by institutional investors and hedge funds.

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.