Pacific Premier Bancorp (NASDAQ:PPBI) Earns Outperform Rating from Raymond James

Raymond James restated their outperform rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a report released on Thursday morning, Benzinga reports. They currently have a $25.00 target price on the financial services provider’s stock, down from their prior target price of $29.00.

Several other research firms have also issued reports on PPBI. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a report on Monday, January 29th. Stephens reissued an equal weight rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Wedbush reissued a neutral rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a report on Thursday. StockNews.com raised Pacific Premier Bancorp to a sell rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods reduced their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp has an average rating of Hold and an average target price of $27.17.

Pacific Premier Bancorp Stock Up 0.4 %

PPBI traded up $0.08 during midday trading on Thursday, reaching $22.24. 95,481 shares of the company were exchanged, compared to its average volume of 527,980. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. The company’s fifty day moving average price is $23.02 and its 200 day moving average price is $24.10. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 170.47 and a beta of 1.21. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same period in the previous year, the company posted $0.66 EPS. As a group, analysts expect that Pacific Premier Bancorp will post 1.93 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

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

Insider Buying and Selling

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PPBI. GAMMA Investing LLC bought a new position in Pacific Premier Bancorp during the 4th quarter valued at approximately $42,000. Bfsg LLC bought a new position in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $93,000. Versor Investments LP bought a new position in shares of Pacific Premier Bancorp during the third quarter valued at approximately $200,000. Bailard Inc. bought a new position in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $207,000. Finally, FineMark National Bank & Trust bought a new position in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $234,000. 93.11% of the stock is owned by 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.