Pacific Premier Bancorp (NASDAQ:PPBI) Earns “Neutral” Rating from Wedbush

Wedbush reissued their neutral rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a report published on Thursday morning, Benzinga reports. Wedbush currently has a $25.00 target price on the financial services provider’s stock. 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.

PPBI has been the subject of a number of other research reports. Raymond James restated an outperform rating and issued a $29.00 target price (up previously from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a research report on Tuesday, April 23rd. Stephens restated an equal weight rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Finally, TheStreet downgraded Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $27.17.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $21.98 on Thursday. The company has a market cap of $2.11 billion, a PE ratio of 169.09 and a beta of 1.21. 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 stock has a 50-day moving average price of $22.90 and a 200-day moving average price of $24.10. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The company had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities analysts forecast that Pacific Premier Bancorp will post 1.89 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 6.01%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 1,015.46%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, March 21st. The shares were purchased at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the purchase, the director now owns 14,507 shares of the company’s stock, valued at $347,007.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several hedge funds have recently made changes to their positions in PPBI. SG Americas Securities LLC increased its stake in shares of Pacific Premier Bancorp by 63.8% during the third quarter. SG Americas Securities LLC now owns 91,038 shares of the financial services provider’s stock valued at $1,981,000 after buying an additional 35,454 shares during the period. Brown Advisory Inc. increased its stake in shares of Pacific Premier Bancorp by 4.0% during 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 buying an additional 66,113 shares during the period. Rosenthal Henry Capital Advisors Inc. increased its stake in shares of Pacific Premier Bancorp by 19.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 59,657 shares of the financial services provider’s stock valued at $1,298,000 after buying an additional 9,566 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Pacific Premier Bancorp by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 1,052 shares in the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of Pacific Premier Bancorp during the third quarter valued at approximately $6,091,000. 93.11% of the stock is owned by hedge funds and other 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.