Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Given Average Rating of “Moderate Buy” by Analysts

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $26.50.

Separately, Wedbush lowered their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th.

Insider Activity

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the sale, the executive vice president now owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Azora Capital LP purchased a new position in shares of Pacific Premier Bancorp during the third quarter worth about $12,187,000. Massachusetts Financial Services Co. MA lifted its position in 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 valued at $69,651,000 after purchasing an additional 321,716 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after buying an additional 245,771 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after buying an additional 242,721 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Pacific Premier Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after buying an additional 238,854 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $24.92 on Thursday. The business’s 50 day simple moving average is $27.11 and its 200 day simple moving average is $25.17. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -166.12 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS 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 analysts’ expectations of $153.23 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. Sell-side analysts forecast that Pacific Premier Bancorp will post 1.6 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio is presently -880.00%.

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.