Pacific Premier Bancorp (NASDAQ:PPBI) Upgraded to Sell by StockNews.com

StockNews.com upgraded shares of Pacific Premier Bancorp (NASDAQ:PPBI) to a sell rating in a report released on Tuesday.

Other equities research analysts have also issued reports about the company. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. Raymond James reaffirmed an outperform rating and set a $29.00 price objective (up previously from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Stephens reiterated an equal weight rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, Wedbush decreased their target price on Pacific Premier Bancorp from $31.00 to $30.00 and set a neutral rating for the company in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp presently has an average rating of Hold and an average target price of $28.60.

Pacific Premier Bancorp Stock Up 2.1 %

PPBI stock opened at $22.60 on Tuesday. 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 50 day simple moving average of $23.04 and a 200-day simple moving average of $24.11. The company has a market capitalization of $2.17 billion, a P/E ratio of 75.33 and a beta of 1.21. Pacific Premier Bancorp has a twelve month low of $17.53 and a twelve month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data 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 net margin of 24.75% and a return on equity of 7.50%. The company had revenue of ($17.00) million during the quarter, compared to analyst estimates of $169.50 million. During the same period last year, the business earned $0.77 EPS. On average, equities research analysts predict that Pacific Premier Bancorp will post 1.96 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.84%. The ex-dividend date was Thursday, February 8th. Pacific Premier Bancorp’s dividend payout ratio is currently 440.00%.

Insider Transactions at Pacific Premier Bancorp

In related news, Director Barbara Polsky acquired 1,200 shares of Pacific Premier Bancorp stock in a transaction that occurred 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 acquisition, 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 SEC, which can be accessed through this hyperlink. Company insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PPBI. Vanguard Group Inc. raised its stake in shares of Pacific Premier Bancorp by 0.6% in 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 in the last quarter. Wellington Management Group LLP raised its position in Pacific Premier Bancorp by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock worth $9,321,000 after acquiring an additional 44,919 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Pacific Premier Bancorp by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock valued at $43,002,000 after acquiring an additional 86,564 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Pacific Premier Bancorp by 17.9% during the 4th quarter. First Trust Advisors LP now owns 1,046,396 shares of the financial services provider’s stock valued at $30,461,000 after purchasing an additional 158,996 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in shares of Pacific Premier Bancorp by 62.3% in the 4th quarter. Rafferty Asset Management LLC now owns 115,734 shares of the financial services provider’s stock worth $3,369,000 after purchasing an additional 44,437 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Company Profile

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.