Pacific Premier Bancorp (NASDAQ:PPBI) Given New $30.00 Price Target at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI) had its price target cut by stock analysts at DA Davidson from $33.00 to $30.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s target price suggests a potential upside of 20.14% from the stock’s current price.

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

Pacific Premier Bancorp Stock Up 0.2 %

Shares of PPBI opened at $24.97 on Friday. 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 stock has a market capitalization of $2.41 billion, a PE ratio of -166.46 and a beta of 1.26. The firm’s 50 day moving average is $26.04 and its 200-day moving average is $25.73. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Equities research analysts forecast that Pacific Premier Bancorp will post 1.59 EPS for the current year.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the transaction, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 649 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Pacific Premier Bancorp in the 3rd quarter valued at about $60,000. KBC Group NV increased its stake in shares of 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 valued at $93,000 after buying an additional 849 shares during the period. FMR LLC raised its position 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 acquiring an additional 723 shares during the last quarter. Finally, Point72 DIFC Ltd lifted its stake in shares of Pacific Premier Bancorp by 202.9% in the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 5,336 shares during the period. 93.11% of the stock is currently owned by institutional investors.

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.