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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.33.

Several equities analysts have issued reports on PPBI shares. DA Davidson cut their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a report on Friday, May 17th. Keefe, Bruyette & Woods lowered their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Piper Sandler lowered their price objective on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, Wedbush reiterated a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, May 22nd.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $27.25 on Monday. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 209.63 and a beta of 1.24. The company’s 50 day moving average is $22.65 and its 200 day moving average is $23.61. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 52-week low of $17.86 and a 52-week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same period in the previous year, the business earned $0.66 earnings per share. On average, sell-side analysts anticipate that Pacific Premier Bancorp will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, May 6th were paid a dividend of $0.33 per share. The ex-dividend date was Friday, May 3rd. This represents a $1.32 annualized dividend and a dividend yield of 4.84%. Pacific Premier Bancorp’s payout ratio is currently 1,015.46%.

Insider Activity at Pacific Premier Bancorp

In related news, CFO Lori R. Wright sold 4,668 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the transaction, the chief financial officer now directly owns 31,259 shares in the company, valued at $737,399.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPBI. Wellington Management Group LLP lifted its position in Pacific Premier Bancorp by 33.3% during the third quarter. Wellington Management Group LLP now owns 275,267 shares of the financial services provider’s stock valued at $5,990,000 after purchasing an additional 68,842 shares during the period. Vest Financial LLC acquired a new position in Pacific Premier Bancorp during the fourth quarter valued at $237,000. Moody National Bank Trust Division lifted its position in Pacific Premier Bancorp by 11.5% during the fourth quarter. Moody National Bank Trust Division now owns 18,347 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 1,892 shares during the period. Assenagon Asset Management S.A. lifted its position in Pacific Premier Bancorp by 82.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 484,910 shares of the financial services provider’s stock valued at $14,116,000 after purchasing an additional 219,313 shares during the period. Finally, AlphaMark Advisors LLC acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $327,000. 93.11% of the stock is currently 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.