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

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. Three investment 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 analysts that have issued a report on the stock in the last year is $26.50.

Several research firms have commented on PPBI. Wedbush raised their price objective on Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Raymond James increased their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stephens lifted their price objective on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a report on Friday, May 17th.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of hedge funds have recently made changes to their positions in PPBI. Fidelis Capital Partners LLC bought a new position in Pacific Premier Bancorp in the first quarter worth about $27,000. nVerses Capital LLC raised its stake in shares of Pacific Premier Bancorp by 93.8% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,500 shares in the last quarter. Innealta Capital LLC purchased a new stake in Pacific Premier Bancorp during the second quarter valued at approximately $95,000. Point72 DIFC Ltd boosted its stake in 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 valued at $183,000 after acquiring an additional 5,336 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Pacific Premier Bancorp in the first quarter valued at approximately $217,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Trading Down 3.0 %

PPBI stock opened at $23.86 on Tuesday. Pacific Premier Bancorp has a 12 month low of $17.86 and a 12 month high of $30.13. The firm’s 50-day moving average is $25.05 and its 200 day moving average is $23.38. The company has a market capitalization of $2.30 billion, a PE ratio of 183.54 and a beta of 1.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $162.23 million. During the same period last year, the business posted $0.60 earnings per share. The business’s revenue was down 9.5% compared to the same quarter last year. On average, research analysts anticipate that Pacific Premier Bancorp will post 1.65 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.53%. The ex-dividend date was Monday, August 5th. Pacific Premier Bancorp’s payout ratio is 1,015.38%.

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.