Pacific Premier Bancorp’s (PPBI) “Outperform” Rating Reiterated at Raymond James

Raymond James restated their outperform rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $25.00 price target on the financial services provider’s stock, down from their prior price target of $29.00.

Several other analysts also recently issued reports on the stock. Wedbush reaffirmed a neutral rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday. Stephens reissued an equal weight rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods reduced their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating on the stock in a research report on Thursday. TheStreet cut Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. Finally, StockNews.com upgraded shares of Pacific Premier Bancorp to a sell rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $27.17.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI opened at $21.98 on Thursday. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 169.08 and a beta of 1.21. The business’s 50 day simple moving average is $22.90 and its 200-day simple moving average is $24.11. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. The company had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. As a group, equities analysts forecast that Pacific Premier Bancorp will post 1.84 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.38%.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, Director Barbara Polsky acquired 1,200 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the acquisition, the director now directly owns 14,507 shares in the company, valued at approximately $347,007.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Peregrine Capital Management LLC grew its stake in shares of Pacific Premier Bancorp by 5.4% during the 1st quarter. Peregrine Capital Management LLC now owns 279,500 shares of the financial services provider’s stock valued at $6,708,000 after buying an additional 14,269 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Pacific Premier Bancorp by 19.8% in the first quarter. Verdence Capital Advisors LLC now owns 13,342 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 2,201 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Pacific Premier Bancorp by 11.4% during 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 acquiring an additional 55,357 shares during the period. Vanguard Group Inc. increased its stake in Pacific Premier Bancorp by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after acquiring an additional 65,694 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Pacific Premier Bancorp by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock worth $9,321,000 after purchasing an additional 44,919 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.