Pacific Premier Bancorp (NASDAQ:PPBI) Given New $30.00 Price Target at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) had its price objective decreased by DA Davidson from $33.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. DA Davidson's price target would suggest a potential upside of 20.14% from the company's previous close.

Separately, Wedbush reduced their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.00.

Pacific Premier Bancorp Stock Up 0.2 %

Shares of NASDAQ:PPBI traded up $0.05 during midday trading on Friday, hitting $24.97. 758,408 shares of the company's stock were exchanged, compared to its average volume of 475,681. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28. The company has a market cap of $2.41 billion, a PE ratio of -166.46 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a 50 day moving average price of $26.09 and a 200-day moving average price of $25.68.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. On average, sell-side analysts anticipate that Pacific Premier Bancorp will post 1.59 EPS for the current fiscal year.

Insider Transactions at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the sale, 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 position. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PPBI. GAMMA Investing LLC increased its holdings in shares of Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock worth $30,000 after purchasing an additional 649 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Pacific Premier Bancorp during the 3rd quarter worth $60,000. KBC Group NV grew its position in Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after acquiring an additional 849 shares in the last quarter. FMR LLC raised its position in Pacific Premier Bancorp by 11.9% during the third quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock valued at $171,000 after purchasing an additional 723 shares in the last quarter. Finally, Point72 DIFC Ltd lifted its stake in Pacific Premier Bancorp by 202.9% during the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider's stock worth $183,000 after purchasing an additional 5,336 shares during the last quarter. Hedge funds and other institutional investors 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.