Wedbush Cuts Pacific Premier Bancorp (NASDAQ:PPBI) Price Target to $27.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its price target cut by Wedbush from $28.00 to $27.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for Pacific Premier Bancorp’s Q1 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.41 EPS, Q4 2025 earnings at $0.41 EPS, FY2025 earnings at $1.60 EPS and FY2026 earnings at $1.75 EPS.

Several other equities research analysts have also recently commented on PPBI. Stephens lifted their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an equal weight rating in a research note on Thursday, July 25th. Raymond James upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an outperform rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Pacific Premier Bancorp presently has a consensus rating of Hold and a consensus target price of $26.83.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI opened at $24.88 on Tuesday. Pacific Premier Bancorp has a 52 week low of $17.86 and a 52 week high of $30.13. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 191.38 and a beta of 1.23. The company has a 50-day moving average of $25.14 and a 200-day moving average of $23.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $154.62 million for the quarter, compared to the consensus estimate of $162.23 million. During the same period in the prior year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, equities research analysts anticipate that Pacific Premier Bancorp will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.38%.

Insider Activity

In other news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets raised its position in shares of Pacific Premier Bancorp by 77.3% in the 1st quarter. BNP Paribas Financial Markets now owns 47,301 shares of the financial services provider’s stock valued at $1,135,000 after buying an additional 20,619 shares in the last quarter. Quantbot Technologies LP bought a new position in Pacific Premier Bancorp in the first quarter valued at about $653,000. Edgestream Partners L.P. acquired a new stake in shares of Pacific Premier Bancorp during the first quarter valued at about $766,000. GSA Capital Partners LLP acquired a new position in Pacific Premier Bancorp in the 1st quarter valued at approximately $858,000. Finally, Hsbc Holdings PLC raised its position in Pacific Premier Bancorp by 1,193.1% during the 4th quarter. Hsbc Holdings PLC now owns 223,429 shares of the financial services provider’s stock worth $6,558,000 after purchasing an additional 206,150 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

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.