Pacific Premier Bancorp (NASDAQ:PPBI) PT Lowered to $27.00

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective cut by research analysts at Keefe, Bruyette & Woods from $29.00 to $27.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 21.68% from the stock’s previous close.

Other analysts have also issued research reports about the company. Raymond James restated an “outperform” rating and issued a $29.00 target price (up previously from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $28.00.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded down $0.55 on Thursday, reaching $22.19. 86,368 shares of the stock traded hands, compared to its average volume of 525,320. The firm’s fifty day simple moving average is $23.04 and its 200 day simple moving average is $24.11. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 73.20 and a beta of 1.21. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. During the same period last year, the company posted $0.66 EPS. As a group, research analysts predict that Pacific Premier Bancorp will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now owns 14,507 shares in the company, valued at approximately $347,007.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in PPBI. Assenagon Asset Management S.A. lifted its stake in shares of Pacific Premier Bancorp by 11.4% in the first quarter. Assenagon Asset Management S.A. now owns 540,267 shares of the financial services provider’s stock valued at $12,966,000 after buying an additional 55,357 shares during the period. Vanguard Group Inc. lifted its stake in shares of Pacific Premier Bancorp by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after buying an additional 65,694 shares during the period. Wellington Management Group LLP lifted its stake in shares of Pacific Premier Bancorp by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock valued at $9,321,000 after buying an additional 44,919 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Pacific Premier Bancorp by 6.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock valued at $43,002,000 after buying an additional 86,564 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Pacific Premier Bancorp by 17.9% in the fourth quarter. First Trust Advisors LP now owns 1,046,396 shares of the financial services provider’s stock valued at $30,461,000 after buying an additional 158,996 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

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.