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

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) have been assigned an average recommendation of “Moderate Buy” from the four research firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.80.

A number of analysts have recently issued reports on PPBI shares. StockNews.com lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Piper Sandler upped their price objective on shares of Pacific Premier Bancorp from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Raymond James lowered their price objective on shares of Pacific Premier Bancorp from $28.00 to $23.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 25th. Stephens upped their price objective on shares of Pacific Premier Bancorp from $23.00 to $26.00 in a research note on Monday, July 31st. Finally, Wedbush lowered their price objective on shares of Pacific Premier Bancorp from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, October 25th.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, Director Joseph L. Garrett sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $18.70, for a total transaction of $140,250.00. Following the transaction, the director now owns 85,426 shares in the company, valued at $1,597,466.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.31% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several hedge funds have recently modified their holdings of PPBI. JPMorgan Chase & Co. increased its holdings in shares of Pacific Premier Bancorp by 19.0% during the first quarter. JPMorgan Chase & Co. now owns 274,989 shares of the financial services provider’s stock valued at $9,721,000 after acquiring an additional 43,956 shares in the last quarter. Raymond James & Associates increased its holdings in Pacific Premier Bancorp by 1.2% in the 1st quarter. Raymond James & Associates now owns 46,891 shares of the financial services provider’s stock worth $1,658,000 after buying an additional 534 shares during the period. Citigroup Inc. increased its holdings in Pacific Premier Bancorp by 9.9% in the 1st quarter. Citigroup Inc. now owns 83,219 shares of the financial services provider’s stock worth $2,941,000 after buying an additional 7,486 shares during the period. PNC Financial Services Group Inc. increased its holdings in Pacific Premier Bancorp by 6.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 32,267 shares of the financial services provider’s stock worth $1,140,000 after buying an additional 1,881 shares during the period. Finally, Bank of Montreal Can increased its holdings in Pacific Premier Bancorp by 46.1% in the 1st quarter. Bank of Montreal Can now owns 49,928 shares of the financial services provider’s stock worth $1,802,000 after buying an additional 15,753 shares during the period. Institutional investors and hedge funds own 92.02% of the company’s stock.

Pacific Premier Bancorp Stock Down 1.4 %

Shares of PPBI opened at $20.70 on Wednesday. The firm has a market capitalization of $1.99 billion, a P/E ratio of 8.25 and a beta of 1.21. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $37.50. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $21.42 and a 200-day moving average price of $21.59.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.07). The company had revenue of $168.10 million for the quarter, compared to analysts’ expectations of $174.90 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 8.47%. During the same period in the prior year, the firm posted $0.77 earnings per share. Equities research analysts expect that Pacific Premier Bancorp will post 2.21 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Shareholders of record on Friday, November 3rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.38%. The ex-dividend date is Thursday, November 2nd. Pacific Premier Bancorp’s payout ratio is 52.59%.

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 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.