Wedbush Reiterates Neutral Rating for Pacific Premier Bancorp (NASDAQ:PPBI)

Pacific Premier Bancorp (NASDAQ:PPBI)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a research note issued on Thursday, Benzinga reports. They presently have a $25.00 price objective on the financial services provider’s stock. Wedbush’s price target would indicate a potential upside of 9.94% from the stock’s previous close.

PPBI has been the subject of several other reports. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. Raymond James reissued an “outperform” rating and set a $29.00 price target (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.60.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $22.74 on Thursday. The firm has a 50 day simple moving average of $23.04 and a 200 day simple moving average of $24.11. Pacific Premier Bancorp has a fifty-two week low of $17.53 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $2.18 billion, a P/E ratio of 75.80 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. During the same period in the previous year, the company posted $0.66 earnings per share. Sell-side analysts predict that Pacific Premier Bancorp will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Pacific Premier Bancorp

In other news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp 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 directly owns 14,507 shares in the company, valued at approximately $347,007.44. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Pacific Premier Bancorp by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after purchasing an additional 65,694 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Pacific Premier Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock worth $147,527,000 after acquiring an additional 131,448 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Pacific Premier Bancorp by 5.0% during the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after acquiring an additional 198,874 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Pacific Premier Bancorp by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after acquiring an additional 207,901 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in Pacific Premier Bancorp by 4.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock worth $37,198,000 after purchasing an additional 66,113 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.