Brokerages Set Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) PT at $27.00

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) has been given an average rating of “Moderate Buy” by the six research firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $27.00.

Separately, DA Davidson lowered their target price on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 24th.

Insider Activity at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the sale, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.21% of the stock is currently owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in PPBI. Azora Capital LP bought a new stake in shares of Pacific Premier Bancorp during the 3rd quarter valued at $12,187,000. Raymond James Financial Inc. purchased a new position in Pacific Premier Bancorp during the fourth quarter worth about $8,720,000. Massachusetts Financial Services Co. MA grew its position in Pacific Premier Bancorp by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after buying an additional 321,716 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth about $7,798,000. Finally, Invesco Ltd. grew its position in Pacific Premier Bancorp by 12.1% during the fourth quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock worth $55,990,000 after buying an additional 241,881 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $23.89 on Tuesday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 14.57 and a beta of 1.26. The business’s fifty day simple moving average is $24.85 and its 200 day simple moving average is $25.62. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. As a group, analysts anticipate that Pacific Premier Bancorp will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.53%. Pacific Premier Bancorp’s payout ratio is 80.49%.

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.