Raymond James Reaffirms Outperform Rating for Pacific Premier Bancorp (NASDAQ:PPBI)

Raymond James reaffirmed their outperform rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a research report released on Thursday morning, Benzinga reports. They currently have a $25.00 target price on the financial services provider’s stock, down from their prior target price of $29.00.

Several other research analysts also recently weighed in on PPBI. Keefe, Bruyette & Woods cut their price target on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating for the company in a report on Thursday. Stephens reiterated an equal weight rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Wedbush reiterated a neutral rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a report on Tuesday, April 23rd. Finally, TheStreet downgraded Pacific Premier Bancorp from a b- rating to a c+ rating in a report on Monday, January 29th. One 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 company. Based on data from MarketBeat, Pacific Premier Bancorp has an average rating of Hold and an average target price of $27.17.

Pacific Premier Bancorp Trading Down 0.8 %

Shares of Pacific Premier Bancorp stock opened at $21.98 on Thursday. 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. The company has a market capitalization of $2.11 billion, a P/E ratio of 169.09 and a beta of 1.21. The business has a 50 day moving average price of $22.90 and a 200 day moving average price of $24.10.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. During the same period in the previous year, the firm posted $0.66 EPS. Sell-side analysts anticipate that Pacific Premier Bancorp will post 1.89 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. Stockholders of record on Monday, May 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.01%. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Pacific Premier Bancorp by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after buying an additional 65,694 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Pacific Premier Bancorp by 2.7% during the 4th 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 period. American Century Companies Inc. boosted its position in Pacific Premier Bancorp by 5.0% during the 3rd 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 period. Massachusetts Financial Services Co. MA boosted its position in Pacific Premier Bancorp by 9.1% during the 4th 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 period. Finally, Brown Advisory Inc. boosted its position in Pacific Premier Bancorp by 4.0% during the 3rd quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock worth $37,198,000 after purchasing an additional 66,113 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

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.