Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Acquires $28,704.00 in Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the acquisition, the director now directly owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Pacific Premier Bancorp Stock Up 4.7 %

PPBI opened at $24.02 on Thursday. Pacific Premier Bancorp, Inc. has a 1-year low of $17.53 and a 1-year high of $30.13. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 80.07 and a beta of 1.20. The business has a 50 day moving average of $24.43 and a 200-day moving average of $24.00.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. The company had revenue of ($17.00) million during the quarter, compared to analysts’ expectations of $169.50 million. During the same period in the prior year, the business earned $0.77 earnings per share. As a group, sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.98 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were given a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.32 annualized dividend and a yield of 5.50%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 440.00%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PPBI. Raymond James reaffirmed an “outperform” rating and set a $29.00 target price (up previously from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Wedbush decreased their target price on Pacific Premier Bancorp from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. Stephens reaffirmed an “equal weight” rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research report on Wednesday, March 20th. Finally, TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Pacific Premier Bancorp has a consensus rating of “Hold” and an average price target of $28.60.

Hedge Funds Weigh In On Pacific Premier Bancorp

Hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in Pacific Premier Bancorp in the first quarter valued at about $28,000. Lazard Asset Management LLC bought a new stake in shares of Pacific Premier Bancorp in the 1st quarter valued at approximately $32,000. Belpointe Asset Management LLC raised its holdings in shares of Pacific Premier Bancorp by 279.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider’s stock worth $33,000 after buying an additional 1,005 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter worth approximately $42,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Pacific Premier Bancorp by 69.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,094 shares of the financial services provider’s stock worth $67,000 after buying an additional 1,270 shares during the period. 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.