Pacific Premier Bancorp (NASDAQ:PPBI) PT Raised to $28.00 at Raymond James

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price raised by Raymond James from $25.00 to $28.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods lowered 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 report on Thursday, April 25th. Wedbush lifted their target price on Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a neutral rating in a research report on Thursday. Stephens increased their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an equal weight rating in a report on Thursday. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a report on Friday, May 17th. Finally, Piper Sandler reduced their target price on Pacific Premier Bancorp from $31.00 to $26.00 and set an overweight rating for the company in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $26.50.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI opened at $27.34 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.90. Pacific Premier Bancorp has a 1-year low of $17.86 and a 1-year high of $30.13. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 210.32 and a beta of 1.24. The business has a 50-day moving average of $23.04 and a 200-day moving average of $23.58.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $154.62 million for the quarter, compared to analyst estimates of $162.23 million. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue was down 9.5% on a year-over-year basis. On average, equities analysts anticipate that Pacific Premier Bancorp will post 1.7 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Insider Activity

In related news, CFO Lori R. Wright sold 4,668 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the transaction, the chief financial officer now directly owns 31,259 shares in the company, valued at $737,399.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Pacific Premier Bancorp by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after buying an additional 65,694 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Pacific Premier Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after purchasing an additional 131,448 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Pacific Premier Bancorp by 9.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock worth $72,381,000 after purchasing an additional 207,901 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Pacific Premier Bancorp by 6.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock worth $43,002,000 after purchasing an additional 86,564 shares during the period. Finally, William Blair Investment Management LLC lifted its holdings in shares of Pacific Premier Bancorp by 56.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 477,167 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

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.