Pacific Premier Bancorp (NASDAQ:PPBI) Price Target Lowered to $30.00 at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective trimmed by DA Davidson from $33.00 to $30.00 in a report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Separately, Wedbush lowered their target price on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One research 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. According to MarketBeat.com, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus target price of $27.00.

Pacific Premier Bancorp Stock Up 0.2 %

Pacific Premier Bancorp stock opened at $24.97 on Friday. Pacific Premier Bancorp has a 52-week low of $20.52 and a 52-week high of $30.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average price of $26.04 and a two-hundred day moving average price of $25.70.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. As a group, equities analysts predict that Pacific Premier Bancorp will post 1.59 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Monday, February 3rd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.29%. Pacific Premier Bancorp’s payout ratio is currently -879.94%.

Insider Buying and Selling

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were 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 of the company’s stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 649 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Pacific Premier Bancorp in the 3rd quarter worth about $60,000. KBC Group NV boosted its position in Pacific Premier Bancorp by 30.0% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 849 shares during the period. FMR LLC grew its stake in Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares in the last quarter. Finally, Point72 DIFC Ltd increased its holdings in shares of Pacific Premier Bancorp by 202.9% in the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 5,336 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.