Pacific Premier Bancorp ( NASDAQ:PPBI ) receives a Neutral rating from Wedbush

Wedbush maintained its neutral rating on the company’s shares Pacific Premier Bancorp (NASDAQ:PPBI – Free Report) in a research report sent to investors on Wednesday, Benzinga reports. Wedbush currently has a $25.00 price target on shares of the financial services provider.

Several other stock market analysts have recently commented on the stock. On Friday, May 17, StockNews.com upgraded Pacific Premier Bancorp shares to sell. Stephens reiterated his rating to the same weight and announced a $28.00 price target on shares of Pacific Premier Bancorp on Tuesday, January 30th. Piper Sandler lowered their target price on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, April 29. 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 for the company in a report on Thursday, April 25th. Finally, DA Davidson lowered their target price on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, April 25th. One equity market analyst rated the company’s shares with a sell recommendation, three with a hold recommendation, and three with a buy recommendation. According to MarketBeat.com, Pacific Premier Bancorp has an average rating of Hold and an average price target of $26.33.

Get our latest stock analysis on PPBI

Pacific Premier Bancorp Price Performance

NASDAQ PPBI shares opened on Wednesday at $23.05. Pacific Premier Bancorp has a twelve month low of $17.86 and a twelve month high of $30.13. The company has a 50-day simple moving average of $22.73 and a 200-day simple moving average of $24.43. The company’s market capitalization is $2.22 billion, its PE ratio is 177.31 and its beta is 1.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp ( NASDAQ:PPBI – Get Free Report ) last announced its earnings results on Wednesday, April 24. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned $0.66 per share. On average, sell-side analysts forecast that Pacific Premier Bancorp will post 1.78 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13. On Monday, May 6, record shareholders received a dividend of $0.33 per share. This represents a dividend of $1.32 on an annualized basis and a dividend yield of 5.73%. The ex-dividend date for this dividend was Friday, May 3. Pacific Premier Bancorp’s dividend payout ratio is currently 1015.38%.

Buying and selling confidential information

In related news, CFO Lori R. Wright sold 4,668 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction amount of $110,118.12. Following the transaction, the CFO now directly owns 31,259 shares of the company’s stock, valued at $737,399.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In related news, CFO Lori R. Wright sold 4,668 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction amount of $110,118.12. Following the transaction, the CFO now directly owns 31,259 shares of the company’s stock, valued at $737,399.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Additionally, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were purchased at an average price of USD 23.92 per share, for a total transaction amount of USD 28,704.00. Following the completion of the acquisition, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. Information regarding this purchase can be found here. 2.21% of the shares belong to corporate insiders.

Pacific Premier Bancorp Institutional Trading

Several hedge funds have recently increased or decreased their holdings in PPBI. Kennedy Capital Management LLC acquired a new stake in shares of Pacific Premier Bancorp during the first quarter worth approximately $7,812,000. MQS Management LLC acquired a new stake in shares of Pacific Premier Bancorp during the first quarter worth approximately $235,000. CANADA LIFE ASSURANCE Co increased its holdings in Pacific Premier Bancorp by 4.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 112,161 shares of the financial services provider’s stock valued at $2,689,000 after acquiring an additional 4,627 shares in the last quarter. Edgestream Partners LP acquired a new position in Pacific Premier Bancorp during the first quarter valued at approximately $766,000. Finally, during the first quarter, BNP PARIBAS ASSET MANAGEMENT Holding SA increased its holdings in Pacific Premier Bancorp by 30.9%. BNP PARIBAS ASSET MANAGEMENT Holding SA now owns 415,479 shares of the financial services provider’s stock valued at $9,971,000 after acquiring an additional 98,139 shares in the last quarter. Institutional investors hold 93.11% of the company’s shares.

Pacific Premier Bancorp Company Profile

(Get the free report)

Pacific Premier Bancorp, Inc operates as the bank holding company of Pacific Premier Bank, which provides various banking products and services in the United States. The company accepts deposit products that include checking, money market, savings accounts and certificates of deposit. The loan portfolio includes owner-occupied and owner-occupied commercial properties, multifamily, construction and land, franchise-backed properties and Small Business Administration (SBA); revolving lines of credit, term loans, seasonal loans and loans secured by liquid collateral; from one to four lines of family and mortgage loans; and small-amount unsecured personal loans and secured savings account loans.

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