Pacific Premier Bancorp (NASDAQ:PPBI) Hits New 52-Week Low at $23.70

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) reached a new 52-week low on Thursday . The stock traded as low as $23.70 and last traded at $24.64, with a volume of 153735 shares traded. The stock had previously closed at $24.91.

Wall Street Analysts Forecast Growth

Several research firms have commented on PPBI. Raymond James cut their price target on Pacific Premier Bancorp from $37.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 27th. StockNews.com began coverage on Pacific Premier Bancorp in a research report on Thursday. They set a “hold” rating on the stock.

Pacific Premier Bancorp Stock Performance

The company has a market cap of $2.36 billion, a price-to-earnings ratio of 8.35 and a beta of 1.25. The firm has a 50-day simple moving average of $31.56 and a 200 day simple moving average of $32.95. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.48.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The financial services provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). The firm had revenue of $238.28 million for the quarter, compared to analyst estimates of $202.25 million. Pacific Premier Bancorp had a return on equity of 10.25% and a net margin of 33.10%. During the same period last year, the firm earned $0.89 EPS. On average, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 2.88 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, February 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date was Thursday, February 2nd. Pacific Premier Bancorp’s payout ratio is currently 44.44%.

Insider Activity

In other news, COO Edward Earl Wilcox sold 19,000 shares of the business’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $33.38, for a total value of $634,220.00. Following the transaction, the chief operating officer now owns 153,782 shares of the company’s stock, valued at $5,133,243.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Steven R. Gardner sold 102,638 shares of the company’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $31.56, for a total transaction of $3,239,255.28. Following the transaction, the chief executive officer now owns 368,482 shares of the company’s stock, valued at $11,629,291.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Edward Earl Wilcox sold 19,000 shares of the company’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $33.38, for a total value of $634,220.00. Following the transaction, the chief operating officer now directly owns 153,782 shares in the company, valued at approximately $5,133,243.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,238 shares of company stock valued at $3,892,285. Company insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC grew its holdings in Pacific Premier Bancorp by 64.2% during the third quarter. CWM LLC now owns 1,010 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 395 shares during the period. Lazard Asset Management LLC purchased a new stake in Pacific Premier Bancorp during the first quarter worth $32,000. Eagle Bay Advisors LLC boosted its position in Pacific Premier Bancorp by 71.4% during the second quarter. Eagle Bay Advisors LLC now owns 1,352 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 563 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new stake in Pacific Premier Bancorp during the third quarter worth $69,000. Finally, Advisors Asset Management Inc. boosted its position in Pacific Premier Bancorp by 29.9% during the first quarter. Advisors Asset Management Inc. now owns 2,201 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 507 shares in the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

About Pacific Premier Bancorp

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Pacific Premier Bancorp, Inc is a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment.