Pacific Premier Bancorp (NASDAQ:PPBI – Free Report) had its target price lowered by Wedbush from $31.00 to $30.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.
A number of other equities analysts have also recently weighed in on PPBI. Keefe, Bruyette & Woods upped their price target on Pacific Premier Bancorp from $24.00 to $25.00 and gave the stock a market perform rating in a report on Monday, December 4th. Piper Sandler upped their price target on Pacific Premier Bancorp from $25.00 to $31.00 and gave the stock an overweight rating in a report on Tuesday, November 21st. Raymond James restated an outperform rating and issued a $29.00 price target (up previously from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday. TheStreet upgraded Pacific Premier Bancorp from a c+ rating to a b- rating in a report on Thursday, December 21st. Finally, StockNews.com cut Pacific Premier Bancorp from a hold rating to a sell rating in a research note on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $28.60.
Pacific Premier Bancorp Stock Down 3.7 %
Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) last posted its earnings results on Monday, January 29th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of ($17.00) million during the quarter, compared to the consensus estimate of $169.50 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 8.47%. During the same quarter in the prior year, the company earned $0.77 EPS. Sell-side analysts expect that Pacific Premier Bancorp will post 2.25 earnings per share for the current year.
Pacific Premier Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Friday, February 9th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.88%. The ex-dividend date is Thursday, February 8th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 52.59%.
Insider Buying and Selling
In related news, CFO Lori R. Wright sold 13,000 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $29.62, for a total transaction of $385,060.00. Following the transaction, the chief financial officer now directly owns 27,462 shares in the company, valued at $813,424.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 6,000 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $23.11, for a total value of $138,660.00. Following the sale, the director now directly owns 124,534 shares of the company’s stock, valued at $2,877,980.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Lori R. Wright sold 13,000 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $29.62, for a total value of $385,060.00. Following the completion of the sale, the chief financial officer now directly owns 27,462 shares in the company, valued at $813,424.44. The disclosure for this sale can be found here. Insiders have sold 64,213 shares of company stock worth $1,640,479 over the last ninety days. 2.31% of the stock is owned by insiders.
Institutional Investors Weigh In On Pacific Premier Bancorp
Several large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Pacific Premier Bancorp by 31.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,561 shares of the financial services provider’s stock worth $628,000 after buying an additional 5,116 shares during the period. Phocas Financial Corp. increased its position in Pacific Premier Bancorp by 1.8% in the fourth quarter. Phocas Financial Corp. now owns 176,442 shares of the financial services provider’s stock worth $5,136,000 after buying an additional 3,142 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Pacific Premier Bancorp in the fourth quarter worth $1,397,000. Mirae Asset Global Investments Co. Ltd. increased its position in Pacific Premier Bancorp by 8.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,249 shares of the financial services provider’s stock worth $1,288,000 after buying an additional 3,464 shares during the period. Finally, SteelPeak Wealth LLC acquired a new stake in Pacific Premier Bancorp in the fourth quarter worth $262,000. 92.02% 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 to businesses, professionals, real estate investors, and non-profit organizations in the United States. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
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