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

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

Several other research firms have also recently weighed in on PPBI. Piper Sandler lowered their price target on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an overweight rating on the stock in a report on Monday, April 29th. Wedbush raised their target price on shares of Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a neutral rating in a report on Thursday. DA Davidson lowered their target price on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a buy rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com raised shares of Pacific Premier Bancorp to a sell rating in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $26.50.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $26.72 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.89. The company has a market capitalization of $2.58 billion, a P/E ratio of 205.55 and a beta of 1.24. The company’s 50 day moving average price is $22.97 and its two-hundred day moving average price is $23.65. Pacific Premier Bancorp has a 52 week low of $17.86 and a 52 week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $154.62 million for the quarter, compared to the consensus estimate of $162.23 million. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s revenue was down 9.5% on a year-over-year basis. On average, analysts expect that Pacific Premier Bancorp will post 1.78 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, August 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.94%. The ex-dividend date is Monday, August 5th. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, CFO Lori R. Wright sold 4,668 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction of $110,118.12. Following the sale, the chief financial officer now owns 31,259 shares in the company, valued at approximately $737,399.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of large investors have recently added to or reduced their stakes in PPBI. Norges Bank bought a new stake in Pacific Premier Bancorp during the fourth quarter worth about $34,788,000. William Blair Investment Management LLC boosted its stake in Pacific Premier Bancorp by 56.0% during the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after acquiring an additional 477,167 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in Pacific Premier Bancorp during the first quarter worth about $7,812,000. Eagle Asset Management Inc. boosted its stake in Pacific Premier Bancorp by 1,724.3% during the fourth quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock worth $8,517,000 after acquiring an additional 276,538 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Pacific Premier Bancorp by 82.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 484,910 shares of the financial services provider’s stock worth $14,116,000 after acquiring an additional 219,313 shares in the last quarter. 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.