Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives $27.00 Consensus Target Price from Brokerages

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $27.00.

Separately, DA Davidson decreased their target price on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 24th.

Pacific Premier Bancorp Stock Performance

PPBI opened at $23.38 on Tuesday. The business’s 50 day moving average is $24.81 and its 200-day moving average is $25.62. The stock has a market cap of $2.25 billion, a PE ratio of 14.26 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp has a twelve month low of $20.52 and a twelve month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. On average, analysts predict that Pacific Premier Bancorp will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is presently 80.49%.

Insider Buying and Selling

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 value of $276,492.30. Following the sale, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.21% of the stock is owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Azora Capital LP bought a new position in Pacific Premier Bancorp during the third quarter worth about $12,187,000. Raymond James Financial Inc. purchased a new position in shares of Pacific Premier Bancorp during the fourth quarter worth approximately $8,720,000. Massachusetts Financial Services Co. MA raised its stake in shares of Pacific Premier Bancorp by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after acquiring an additional 321,716 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $7,798,000. Finally, Invesco Ltd. boosted its holdings in Pacific Premier Bancorp by 12.1% in the fourth quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock valued at $55,990,000 after acquiring an additional 241,881 shares in the last quarter. Hedge funds and other institutional investors 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.