By otakuyassine3@gmail.com 
Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Free Report) has been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the firm, 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 price objective among analysts that have issued a report on the stock in the last year is $27.00.
PPBI has been the subject of several recent research reports. Wedbush dropped 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 report on Friday, October 25th. DA Davidson dropped 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 report on Friday, January 24th.
View Our Latest Research Report on PPBI
Pacific Premier Bancorp Stock Performance
Shares of PPBI opened at $26.15 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $25.70 and a 200-day simple moving average of $25.72. Pacific Premier Bancorp has a 52-week low of $20.52 and a 52-week high of $30.28. The company has a market capitalization of $2.52 billion, a PE ratio of 15.95 and a beta of 1.26.
Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. Equities research analysts predict that Pacific Premier Bancorp will post 1.34 earnings per share for the current fiscal year.
Pacific Premier Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.05%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.
Insider Transactions at Pacific Premier Bancorp
In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the sale, the executive vice president now directly owns 25,475 shares of the company’s stock, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction 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 $2,135,466.38. This represents 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.
Institutional Investors Weigh In On Pacific Premier Bancorp
Hedge funds have recently modified their holdings of the stock. Algert Global LLC boosted its position in shares of Pacific Premier Bancorp by 22.0% in the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock worth $5,903,000 after acquiring an additional 42,357 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Pacific Premier Bancorp by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock worth $3,787,000 after acquiring an additional 8,145 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Pacific Premier Bancorp in the third quarter worth approximately $784,000. Azora Capital LP acquired a new position in Pacific Premier Bancorp during the third quarter valued at approximately $12,187,000. Finally, Barclays PLC lifted its position in Pacific Premier Bancorp by 71.4% during the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after buying an additional 84,859 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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