Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Receives $26.50 Average PT from Brokerages

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $26.50.

Separately, Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, October 25th.

Insider Buying and Selling

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael S. Karr sold 10,290 shares of the company's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now directly owns 79,474 shares of the company's stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PPBI. Azora Capital LP purchased a new stake in Pacific Premier Bancorp in the 3rd quarter worth $12,187,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Pacific Premier Bancorp by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider's stock worth $69,651,000 after purchasing an additional 321,716 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Pacific Premier Bancorp by 61.6% in the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider's stock worth $16,214,000 after buying an additional 245,771 shares in the last quarter. American Century Companies Inc. boosted its stake in Pacific Premier Bancorp by 6.1% during the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider's stock valued at $97,695,000 after buying an additional 242,721 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Pacific Premier Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider's stock valued at $129,645,000 after buying an additional 238,854 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI traded down $0.07 during trading hours on Monday, reaching $24.86. The company had a trading volume of 376,593 shares, compared to its average volume of 378,198. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -165.72 and a beta of 1.26. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm's 50 day moving average price is $26.81 and its 200-day moving average price is $25.54. Pacific Premier Bancorp has a 52 week low of $20.52 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the firm earned $0.48 earnings per share. On average, analysts forecast that Pacific Premier Bancorp will post 1.6 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.31%. Pacific Premier Bancorp's payout ratio is currently -880.00%.

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.