Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Given Consensus Rating of “Moderate Buy” by Brokerages

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $26.33.

PPBI has been the subject of several recent research reports. Piper Sandler lowered their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Stephens reiterated an “equal weight” rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Wedbush reiterated a “neutral” rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. Raymond James reiterated an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. Finally, StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday, April 23rd.

Pacific Premier Bancorp Trading Up 0.8 %

Shares of PPBI opened at $22.95 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. Pacific Premier Bancorp has a 52-week low of $17.53 and a 52-week high of $30.13. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 176.55 and a beta of 1.21. The business’s fifty day moving average is $22.72 and its 200-day moving average is $24.14.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its 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 for the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the previous year, the business posted $0.66 earnings per share. Equities analysts anticipate that Pacific Premier Bancorp will post 1.79 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors 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 5.75%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.46%.

Insiders Place Their Bets

In related news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several hedge funds have recently bought and sold shares of PPBI. GSA Capital Partners LLP purchased a new stake in shares of Pacific Premier Bancorp in the 1st quarter valued at about $858,000. Fidelis Capital Partners LLC bought a new position in shares of Pacific Premier Bancorp in the 1st quarter worth $27,000. Capstone Investment Advisors LLC purchased a new stake in shares of Pacific Premier Bancorp during the 1st quarter valued at $217,000. BNP Paribas Financial Markets lifted its holdings in shares of Pacific Premier Bancorp by 77.3% during the 1st quarter. BNP Paribas Financial Markets now owns 47,301 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 20,619 shares during the last quarter. Finally, Peregrine Capital Management LLC grew its position in Pacific Premier Bancorp by 5.4% in the first quarter. Peregrine Capital Management LLC now owns 279,500 shares of the financial services provider’s stock worth $6,708,000 after acquiring an additional 14,269 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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.