Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives Consensus Rating of “Hold” from Brokerages

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been given an average rating of “Hold” by the seven analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $35.00.

A number of brokerages have recently issued reports on PPBI. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Janney Montgomery Scott lowered Pacific Premier Bancorp from a “buy” rating to a “neutral” rating in a research report on Friday, June 7th. Zacks Investment Research lowered Pacific Premier Bancorp from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 17th. Finally, BidaskClub raised Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 27th.

Shares of NASDAQ PPBI traded down $0.07 during midday trading on Friday, reaching $29.39. 174,411 shares of the company’s stock were exchanged, compared to its average volume of 400,391. Pacific Premier Bancorp has a 52-week low of $23.01 and a 52-week high of $40.10. The stock has a market capitalization of $1.77 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.02. The business’s fifty day moving average price is $29.71 and its two-hundred day moving average price is $29.44.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). Pacific Premier Bancorp had a return on equity of 8.04% and a net margin of 26.08%. The business had revenue of $116.97 million for the quarter, compared to analysts’ expectations of $120.85 million. During the same period in the previous year, the firm posted $0.58 earnings per share. Analysts predict that Pacific Premier Bancorp will post 2.49 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, August 2nd were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, August 1st. Pacific Premier Bancorp’s dividend payout ratio is currently 35.06%.

In other news, Director Joseph L. Garrett acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average cost of $28.78 per share, with a total value of $28,780.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.67% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Atria Investments LLC bought a new position in shares of Pacific Premier Bancorp in the second quarter valued at $626,000. Maltese Capital Management LLC increased its holdings in shares of Pacific Premier Bancorp by 25.2% in the second quarter. Maltese Capital Management LLC now owns 162,846 shares of the financial services provider’s stock valued at $5,029,000 after buying an additional 32,730 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Pacific Premier Bancorp in the second quarter valued at $739,000. Nuveen Asset Management LLC bought a new position in shares of Pacific Premier Bancorp in the second quarter valued at $12,129,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Pacific Premier Bancorp by 11.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,499,092 shares of the financial services provider’s stock valued at $108,052,000 after buying an additional 348,623 shares in the last quarter. 88.50% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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