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

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have received an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $27.00.

Several research analysts have recently issued reports on PPBI shares. DA Davidson lowered 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. Wedbush decreased their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, October 25th.

Pacific Premier Bancorp Trading Up 3.6 %

Shares of Pacific Premier Bancorp stock opened at $26.15 on Friday. The company has a fifty day simple moving average of $25.70 and a 200-day simple moving average of $25.72. Pacific Premier Bancorp has a 12-month low of $20.52 and a 12-month high of $30.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 15.95 and a beta of 1.26.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) 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%. On average, equities analysts forecast that Pacific Premier Bancorp will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Monday, February 3rd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio is currently 80.49%.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction 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 owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Pacific Premier Bancorp by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider’s stock valued at $28,128,000 after purchasing an additional 14,310 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Pacific Premier Bancorp by 17.1% in the 4th quarter. Handelsbanken Fonder AB now owns 20,523 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 3,000 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at about $220,000. CIBC Asset Management Inc increased its holdings in shares of Pacific Premier Bancorp by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 9,658 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 487 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Pacific Premier Bancorp by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 467,665 shares of the financial services provider’s stock valued at $11,654,000 after purchasing an additional 13,168 shares in the last quarter. Institutional investors and hedge funds 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.