Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives Consensus Rating of “Moderate Buy” from Analysts

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, 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 1 year target price among analysts that have issued a report on the stock in the last year is $26.33.

Several equities research analysts have recently weighed in on PPBI shares. Piper Sandler reduced their price target on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday. DA Davidson decreased their target price on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Stephens reaffirmed an “equal weight” rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and set a $25.00 target price (down from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th.

Insider Transactions at Pacific Premier Bancorp

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 purchased at an average cost of $23.92 per share, with a total value of $28,704.00. Following the transaction, the director now 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 through the SEC website. Corporate insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPBI. Brown Advisory Inc. grew its stake 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 buying an additional 66,113 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. grew its stake in Pacific Premier Bancorp by 19.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 59,657 shares of the financial services provider’s stock worth $1,298,000 after buying an additional 9,566 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Pacific Premier Bancorp by 7.6% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after buying an additional 1,052 shares during the last quarter. Ieq Capital LLC purchased a new position in Pacific Premier Bancorp during the 3rd quarter worth $6,091,000. Finally, Assenagon Asset Management S.A. grew its stake in Pacific Premier Bancorp by 70.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 265,597 shares of the financial services provider’s stock worth $5,779,000 after buying an additional 109,743 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Trading Down 2.2 %

Shares of NASDAQ PPBI opened at $21.50 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. The business’s 50 day moving average price is $22.84 and its 200-day moving average price is $24.12. Pacific Premier Bancorp has a fifty-two week low of $17.53 and a fifty-two week high of $30.13. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 165.40 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share 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 for the quarter, compared to the consensus estimate of $166.98 million. During the same period in the prior year, the business posted $0.66 earnings per share. On average, sell-side analysts expect that Pacific Premier Bancorp will post 1.84 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

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.