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

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Three investment 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 brokers that have covered the stock in the last year is $26.50.

Separately, Wedbush cut their target price 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.

Pacific Premier Bancorp Stock Performance

PPBI opened at $22.95 on Monday. Pacific Premier Bancorp has a 1-year low of $20.52 and a 1-year high of $30.28. The stock has a market cap of $2.21 billion, a P/E ratio of -152.99 and a beta of 1.26. The stock’s 50 day simple moving average is $26.71 and its 200 day simple moving average is $25.54. 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 announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same period in the prior year, the company posted $0.48 EPS. As a group, equities analysts anticipate that Pacific Premier Bancorp will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 5.75%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

Insider Transactions at Pacific Premier Bancorp

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the sale, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. The trade was a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of PPBI. GAMMA Investing LLC grew its stake in shares of Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after buying an additional 649 shares during the period. Point72 Asset Management L.P. acquired a new position in Pacific Premier Bancorp in the third quarter valued at $60,000. KBC Group NV grew its position in Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 849 shares during the period. FMR LLC increased its stake in 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 raised its holdings in shares of Pacific Premier Bancorp by 202.9% in the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 5,336 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

About Pacific Premier Bancorp

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.