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

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price dropped by research analysts at DA Davidson from $32.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price target points to a potential upside of 22.84% from the company’s previous close. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.43 EPS and FY2025 earnings at $2.03 EPS.

Other analysts have also issued reports about the stock. Raymond James reissued an “outperform” rating and set a $25.00 target price (down from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. Stephens restated an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Wedbush restated a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. Keefe, Bruyette & Woods reduced their price target on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. One investment 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 data from MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and a consensus price target of $27.17.

Pacific Premier Bancorp Stock Down 0.8 %

PPBI stock opened at $21.98 on Thursday. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The firm has a market cap of $2.11 billion, a PE ratio of 169.09 and a beta of 1.21. The firm has a 50 day simple moving average of $22.96 and a 200 day simple moving average of $24.08. 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, beating the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The business had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. During the same period in the prior year, the business earned $0.66 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp will post 1.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the purchase, the director now owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PPBI. WBI Investments Inc. increased its stake in shares of Pacific Premier Bancorp by 4.8% during the 3rd quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock worth $334,000 after purchasing 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% during the 3rd 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 during the last quarter. GAMMA Investing LLC acquired a new position in shares of Pacific Premier Bancorp during the 4th quarter worth $42,000. Teza Capital Management LLC increased its stake in shares of Pacific Premier Bancorp by 13.6% during the 3rd 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 during the last quarter. Finally, Truist Financial Corp increased its stake in shares of Pacific Premier Bancorp by 5.8% during the 4th 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 during the last quarter. Institutional investors and hedge funds 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.