Pacific Premier Bancorp (NASDAQ:PPBI) PT Lowered to $26.00 at Piper Sandler

Pacific Premier Bancorp (NASDAQ:PPBI) had its price target lowered by Piper Sandler from $31.00 to $26.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Raymond James reaffirmed an outperform rating and set a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a report on Tuesday, April 23rd. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a report on Monday, January 29th. DA Davidson cut their price target on Pacific Premier Bancorp from $32.00 to $27.00 and set a buy rating on the stock in a report on Thursday, April 25th. Finally, Stephens reiterated an equal weight rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $26.33.

Pacific Premier Bancorp Trading Up 3.3 %

NASDAQ PPBI opened at $22.22 on Monday. The business has a 50 day simple moving average of $22.79 and a 200 day simple moving average of $24.12. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13. The stock has a market capitalization of $2.14 billion, a P/E ratio of 170.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its 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. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. The business had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. During the same quarter last year, the firm posted $0.66 earnings per share. Research analysts expect that Pacific Premier Bancorp will post 1.84 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be issued a $0.33 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.94%. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Insider Buying and Selling

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is available 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 have recently bought and sold shares of PPBI. Brown Advisory Inc. increased its position in 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 worth $37,198,000 after buying an additional 66,113 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. increased its position in Pacific Premier Bancorp by 19.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 59,657 shares of the financial services provider’s stock worth $1,298,000 after buying an additional 9,566 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Pacific Premier Bancorp by 7.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after buying an additional 1,052 shares during the last quarter. Ieq Capital LLC purchased a new stake in Pacific Premier Bancorp in the third quarter worth $6,091,000. Finally, Assenagon Asset Management S.A. increased its position in Pacific Premier Bancorp by 70.4% in the third quarter. Assenagon Asset Management S.A. now owns 265,597 shares of the financial services provider’s stock worth $5,779,000 after buying an additional 109,743 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

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.