Pacific Premier Bancorp (NASDAQ:PPBI) Price Target Raised to $25.00 at Wedbush

Pacific Premier Bancorp (NASDAQ:PPBI) had its price target raised by Wedbush from $23.00 to $25.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for Pacific Premier Bancorp’s Q3 2024 earnings at $0.41 EPS, Q4 2024 earnings at $0.41 EPS, FY2024 earnings at $1.74 EPS, Q1 2025 earnings at $0.38 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.42 EPS and Q4 2025 earnings at $0.45 EPS.

A number of other analysts also recently commented on PPBI. DA Davidson reduced their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a buy rating for the company in a research report on Thursday, April 25th. 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. StockNews.com raised shares of Pacific Premier Bancorp to a sell rating in a report on Friday, May 17th. 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 research note on Thursday, April 25th. Finally, Raymond James restated an outperform rating and set a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $26.50.

Pacific Premier Bancorp Price Performance

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 one year low of $17.86 and a one year high of $30.13. The company has a fifty day moving average price of $23.04 and a 200 day moving average price of $23.58. The stock has a market cap of $2.64 billion, a P/E ratio of 210.32 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data 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 firm posted $0.60 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. Analysts anticipate that Pacific Premier Bancorp will post 1.7 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

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

Insider Transactions at Pacific Premier Bancorp

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 completion of the sale, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at approximately $737,399.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.21% of the stock is owned by company insiders.

Institutional Trading of Pacific Premier Bancorp

Several large investors have recently made changes to their positions in PPBI. Vanguard Group Inc. grew its holdings in 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 worth $329,437,000 after acquiring an additional 65,694 shares during the last quarter. Dimensional Fund Advisors LP grew its stake 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 grew its stake in shares of Pacific Premier Bancorp by 9.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after purchasing an additional 207,901 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Pacific Premier Bancorp by 6.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock valued at $43,002,000 after purchasing an additional 86,564 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in 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. 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.