Pacific Premier Bancorp (NASDAQ:PPBI) Rating Reiterated by Raymond James

Raymond James reiterated their outperform rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a research note released on Thursday, Benzinga reports. They currently have a $25.00 price objective on the financial services provider’s stock, down from their previous price objective of $29.00.

A number of other equities analysts also recently weighed in on PPBI. TheStreet downgraded shares of Pacific Premier Bancorp from a b- rating to a c+ rating in a research note on Monday, January 29th. StockNews.com raised Pacific Premier Bancorp to a sell rating in a research note on Tuesday, April 23rd. Stephens reissued an equal weight rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods cut their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating on the stock in a research report on Thursday. Finally, Wedbush reissued a neutral rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $27.17.

Pacific Premier Bancorp Trading Down 0.8 %

Shares of NASDAQ PPBI opened at $21.98 on Thursday. The firm has a market capitalization of $2.11 billion, a PE ratio of 169.08 and a beta of 1.21. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $22.90 and a two-hundred day moving average price of $24.11.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The business 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 6.92%. During the same period last year, the company posted $0.66 earnings per share. As a group, analysts predict that Pacific Premier Bancorp will post 1.84 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.01%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.38%.

Insider Buying and Selling

In related news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp 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 transaction, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PPBI. Vanguard Group Inc. lifted its holdings in Pacific Premier Bancorp by 0.6% during the 4th 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 during the last quarter. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 131,448 shares during the period. American Century Companies Inc. lifted its stake 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 buying an additional 198,874 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $72,381,000 after buying an additional 207,901 shares during the period. Finally, Brown Advisory Inc. grew its stake in Pacific Premier Bancorp by 4.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock valued at $37,198,000 after buying an additional 66,113 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

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.