Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Acquires $28,704.00 in Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Barbara Polsky bought 1,200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the purchase, the director now directly owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $24.02 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.30 billion, a PE ratio of 80.07 and a beta of 1.20. The company’s 50 day simple moving average is $24.43 and its 200-day simple moving average is $24.00. Pacific Premier Bancorp, Inc. 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 Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. The firm had revenue of ($17.00) million during the quarter, compared to the consensus estimate of $169.50 million. During the same period last year, the company earned $0.77 earnings per share. As a group, equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.98 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend was Thursday, February 8th. Pacific Premier Bancorp’s dividend payout ratio is presently 440.00%.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in shares of Pacific Premier Bancorp by 0.7% during the second quarter. BlackRock Inc. now owns 14,084,498 shares of the financial services provider’s stock worth $291,267,000 after purchasing an additional 98,552 shares during the period. Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 65,694 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Pacific Premier Bancorp by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,100,097 shares of the financial services provider’s stock valued at $180,292,000 after acquiring an additional 60,891 shares during the period. State Street Corp lifted its holdings in Pacific Premier Bancorp by 8.8% in the second quarter. State Street Corp now owns 5,036,409 shares of the financial services provider’s stock valued at $104,153,000 after acquiring an additional 406,664 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Pacific Premier Bancorp by 5.0% in the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after acquiring an additional 198,874 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PPBI shares. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods increased their price target on shares of Pacific Premier Bancorp from $24.00 to $25.00 and gave the company a “market perform” rating in a research note on Monday, December 4th. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Stephens reiterated 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, Raymond James reiterated an “outperform” rating and issued a $29.00 price target (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average price target of $28.60.

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.