Pacific Premier Bancorp (NASDAQ:PPBI) Price Target Lowered to $27.00 at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price lowered by equities research analysts at DA Davidson from $32.00 to $27.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target would suggest a potential upside of 21.84% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Stephens reissued an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.17.

Pacific Premier Bancorp Price Performance

PPBI stock traded down $0.58 during mid-day trading on Thursday, hitting $22.16. 719,353 shares of the stock were exchanged, compared to its average volume of 533,225. The business has a fifty day moving average price of $23.04 and a 200 day moving average price of $24.11. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 73.87 and a beta of 1.21. 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 0.32, a current ratio of 0.93 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. During the same quarter in the prior year, the company earned $0.66 EPS. On average, sell-side analysts anticipate that Pacific Premier Bancorp will post 1.96 EPS for the current year.

Insider Buying and Selling

In related news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were purchased 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 owns 14,507 shares of the company’s stock, valued at $347,007.44. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 2.21% of the stock is owned by insiders.

Institutional Trading of Pacific Premier Bancorp

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of 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 worth $329,437,000 after purchasing an additional 65,694 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Pacific Premier Bancorp by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock worth $147,527,000 after acquiring an additional 131,448 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Pacific Premier Bancorp by 5.0% during the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after acquiring an additional 198,874 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Pacific Premier Bancorp by 9.1% during the 4th 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 last quarter. Finally, Brown Advisory Inc. grew 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 purchasing an additional 66,113 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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.