Pacific Premier Bancorp (NASDAQ:PPBI) Given New $27.00 Price Target at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective cut by DA Davidson from $32.00 to $27.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock. DA Davidson also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.43 EPS and FY2025 earnings at $2.03 EPS.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their price objective 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. Stephens reissued an equal weight rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. TheStreet downgraded shares of Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. Finally, Wedbush reissued a neutral rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $27.17.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $21.98 on Thursday. The firm has a market cap of $2.11 billion, a P/E ratio of 169.09 and a beta of 1.21. Pacific Premier Bancorp has a twelve month low of $17.53 and a twelve month high of $30.13. 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 firm’s 50 day moving average price is $22.90 and its two-hundred day moving average price is $24.11.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same period in the previous year, the firm posted $0.66 EPS. On average, analysts forecast that Pacific Premier Bancorp will post 1.84 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be paid a $0.33 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 6.01%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 1,015.46%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares in the company, valued at approximately $347,007.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Peregrine Capital Management LLC lifted its position in Pacific Premier Bancorp by 5.4% during the first quarter. Peregrine Capital Management LLC now owns 279,500 shares of the financial services provider’s stock worth $6,708,000 after acquiring an additional 14,269 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in Pacific Premier Bancorp by 19.8% during the 1st quarter. Verdence Capital Advisors LLC now owns 13,342 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 2,201 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Pacific Premier Bancorp by 11.4% during the first quarter. Assenagon Asset Management S.A. now owns 540,267 shares of the financial services provider’s stock worth $12,966,000 after buying an additional 55,357 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Pacific Premier Bancorp by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after acquiring an additional 65,694 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Pacific Premier Bancorp by 16.3% in the fourth quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock valued at $9,321,000 after acquiring an additional 44,919 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.