Pacific Premier Bancorp (NASDAQ:PPBI) PT Lowered to $27.00 at Keefe, Bruyette & Woods

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price reduced by Keefe, Bruyette & Woods from $29.00 to $27.00 in a report issued on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Several other brokerages also recently commented on PPBI. Wedbush reaffirmed a neutral rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday. Raymond James reissued an outperform rating and set a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. StockNews.com raised shares of Pacific Premier Bancorp to a sell rating in a research report on Tuesday. Stephens restated an equal weight rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Finally, TheStreet cut shares of Pacific Premier Bancorp from a b- rating to a c+ rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has an average rating of Hold and a consensus target price of $27.17.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock traded up $0.08 during trading hours on Thursday, hitting $22.24. 95,481 shares of the company’s stock were exchanged, compared to its average volume of 527,980. The company has a market capitalization of $2.13 billion, a PE ratio of 170.47 and a beta of 1.21. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $30.13. The business’s 50 day simple moving average is $23.02 and its 200-day simple moving average is $24.10. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping 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 company had revenue of $239.21 million for the quarter, compared to the consensus estimate of $166.98 million. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, equities research analysts anticipate that Pacific Premier Bancorp will post 1.93 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.46%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, March 21st. The stock was purchased at an average price of $23.92 per share, with a total value of $28,704.00. Following the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The purchase was disclosed in a document filed with the SEC, which is available through this link. 2.21% of the stock is owned by insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in Pacific Premier Bancorp in the 4th quarter worth approximately $42,000. Bfsg LLC purchased a new stake in Pacific Premier Bancorp in the fourth quarter worth $93,000. Bailard Inc. purchased a new stake in Pacific Premier Bancorp in the fourth quarter worth $207,000. FineMark National Bank & Trust purchased a new position in shares of Pacific Premier Bancorp during the fourth quarter valued at $234,000. Finally, Vest Financial LLC purchased a new position in shares of Pacific Premier Bancorp during the fourth quarter valued at $237,000. 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.