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

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

A number of other brokerages also recently weighed in on PPBI. Raymond James restated an outperform rating and set a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. TheStreet downgraded shares of Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods lowered 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, April 25th. DA Davidson lowered their price objective on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a buy rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com upgraded shares of Pacific Premier Bancorp to a sell rating in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Pacific Premier Bancorp has an average rating of Hold and an average price target of $26.33.

Pacific Premier Bancorp Trading Up 0.0 %

Shares of NASDAQ PPBI opened at $21.99 on Monday. The firm’s 50 day moving average price is $22.84 and its 200-day moving average price is $24.12. The company has a market cap of $2.11 billion, a PE ratio of 169.17 and a beta of 1.21. Pacific Premier Bancorp has a 52-week low of $17.53 and a 52-week high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $239.21 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $0.66 earnings per share. On average, equities research analysts expect that Pacific Premier Bancorp will post 1.84 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.33 per share. 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 6.00%. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of Pacific Premier Bancorp stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost 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 in the company, valued at $347,007.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.21% of the stock is owned by corporate insiders.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WBI Investments Inc. increased its holdings in Pacific Premier Bancorp by 4.8% during the third quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock valued at $334,000 after buying an additional 708 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of 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 purchasing an additional 1,052 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter worth $42,000. Teza Capital Management LLC increased its stake in shares of Pacific Premier Bancorp by 13.6% in the third quarter. Teza Capital Management LLC now owns 13,417 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 1,610 shares in the last quarter. Finally, Truist Financial Corp increased its stake in shares of Pacific Premier Bancorp by 5.8% in the fourth quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock worth $985,000 after purchasing an additional 1,842 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other 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.