Pacific Premier Bancorp (NASDAQ:PPBI) Given New $27.00 Price Target at Keefe, Bruyette & Woods

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price lowered by equities researchers at Keefe, Bruyette & Woods from $29.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 22.84% from the stock’s current price.

Several other equities research analysts have also commented on PPBI. Raymond James restated an “outperform” rating and issued a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. Stephens restated 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. Wedbush restated a “neutral” rating and issued a $25.00 price objective on shares of Pacific Premier Bancorp in a research note on Thursday. Finally, TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.17.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI opened at $21.98 on Thursday. The business’s fifty day moving average price is $22.96 and its 200-day moving average price is $24.08. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 169.09 and a beta of 1.21. 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 has a 1-year low of $17.53 and a 1-year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly 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. 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 period in the prior year, the firm earned $0.66 EPS. On average, equities analysts predict that Pacific Premier Bancorp will post 1.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Barbara Polsky acquired 1,200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the purchase, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is owned by insiders.

Institutional Trading of Pacific Premier Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake 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 worth $329,437,000 after purchasing an additional 65,694 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pacific Premier Bancorp by 2.7% in 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 purchasing an additional 131,448 shares during the last quarter. American Century Companies Inc. lifted its stake 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 worth $90,387,000 after purchasing an additional 198,874 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Pacific Premier Bancorp by 9.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock worth $72,381,000 after purchasing an additional 207,901 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Pacific Premier Bancorp by 4.0% during the third quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock worth $37,198,000 after acquiring an additional 66,113 shares during the period. Institutional investors 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.