Pacific Premier Bancorp (NASDAQ:PPBI) Sets New 52-Week Low - What's Next?

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Get Free Report) shares reached a new 52-week low on Thursday . The stock traded as low as $19.56 and last traded at $19.69, with a volume of 196448 shares changing hands. The stock had previously closed at $21.70.

Analysts Set New Price Targets

Separately, DA Davidson cut their price objective on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $27.00.

Pacific Premier Bancorp Price Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The business's fifty day moving average price is $23.04 and its 200-day moving average price is $24.95. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 11.59 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. On average, research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 6.95%. Pacific Premier Bancorp's dividend payout ratio (DPR) is currently 80.49%.

Hedge Funds Weigh In On Pacific Premier Bancorp

Hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of Pacific Premier Bancorp during the third quarter valued at about $60,000. Smartleaf Asset Management LLC lifted its position in shares of Pacific Premier Bancorp by 158.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after buying an additional 1,853 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Pacific Premier Bancorp by 729.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after buying an additional 2,655 shares during the last quarter. KBC Group NV grew its holdings in shares of Pacific Premier Bancorp by 34.7% in the fourth quarter. KBC Group NV now owns 4,955 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at approximately $158,000. 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.