Pacific Premier Bancorp (NASDAQ:PPBI) Stock Rating Reaffirmed by Wedbush

Pacific Premier Bancorp (NASDAQ:PPBI)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a report issued on Thursday, Benzinga reports. They currently have a $25.00 price objective on the financial services provider’s stock. Wedbush’s target price would suggest a potential upside of 13.74% from the stock’s previous close. Wedbush also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.46 EPS, Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.85 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.00 EPS.

A number of other brokerages have also issued reports on PPBI. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. Stephens reiterated an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, Raymond James restated an “outperform” rating and set a $29.00 target price (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.17.

Pacific Premier Bancorp Trading Down 0.8 %

NASDAQ PPBI opened at $21.98 on Thursday. The firm’s 50-day moving average is $22.96 and its two-hundred day moving average is $24.08. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93. The stock has a market capitalization of $2.11 billion, a P/E ratio of 169.09 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, sell-side analysts anticipate that Pacific Premier Bancorp will post 1.93 earnings per share for the current year.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of the stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 valued at $329,437,000 after purchasing an additional 65,694 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $147,527,000 after acquiring an additional 131,448 shares during the period. American Century Companies Inc. boosted its holdings in shares of 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 valued at $90,387,000 after acquiring an additional 198,874 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of 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 valued at $72,381,000 after acquiring an additional 207,901 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Pacific Premier Bancorp by 4.0% in the third quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock valued at $37,198,000 after acquiring an additional 66,113 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

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.