Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Sees Significant Decline in Short Interest

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,740,000 shares, a decline of 13.0% from the May 31st total of 2,000,000 shares. Based on an average daily volume of 497,100 shares, the short-interest ratio is currently 3.5 days. Approximately 1.9% of the company’s shares are sold short.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Piper Sandler dropped their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, April 29th. DA Davidson decreased their target price on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods cut their price target on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Finally, Wedbush reissued a “neutral” rating and issued a $25.00 price objective on shares of Pacific Premier Bancorp in a research report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.33.

Insider Activity

In related news, CFO Lori R. Wright sold 4,668 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter valued at about $27,000. GAMMA Investing LLC bought a new position in Pacific Premier Bancorp during the 4th quarter worth approximately $42,000. Bfsg LLC acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter worth approximately $93,000. Bailard Inc. bought a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at approximately $207,000. Finally, FineMark National Bank & Trust acquired a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at approximately $234,000. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Down 0.9 %

Shares of NASDAQ PPBI traded down $0.20 during trading on Monday, reaching $22.77. 112,197 shares of the stock were exchanged, compared to its average volume of 523,890. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 174.86 and a beta of 1.24. The business’s 50-day moving average price is $22.14 and its 200 day moving average price is $24.13. 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 twelve month low of $17.86 and a twelve month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share 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 analyst estimates of $166.98 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. As a group, equities analysts forecast that Pacific Premier Bancorp will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, May 6th were paid a $0.33 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.80%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

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.