Pacific Premier Bancorp (NASDAQ:PPBI) Price Target Cut to $27.00 by Analysts at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI) had its price target trimmed by DA Davidson from $32.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has 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 analysts have also issued reports about the stock. Wedbush reiterated a neutral rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. Raymond James reiterated an outperform rating and issued a $25.00 price target (down from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday. TheStreet lowered shares of Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. Stephens restated an equal weight rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods decreased 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 report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Pacific Premier Bancorp has an average rating of Hold and a consensus price target of $27.17.

Pacific Premier Bancorp Stock Down 0.8 %

PPBI stock opened at $21.98 on Thursday. The company’s 50 day simple moving average is $22.90 and its 200-day simple moving average is $24.10. The firm has a market capitalization of $2.11 billion, a PE ratio of 169.09 and a beta of 1.21. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results 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 analyst estimates 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 prior year, the business earned $0.66 earnings per share. Equities analysts expect that Pacific Premier Bancorp will post 1.89 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.46%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of large investors have recently bought and sold shares of the stock. WBI Investments Inc. raised its stake in Pacific Premier Bancorp by 4.8% during the third quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 708 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Pacific Premier Bancorp by 7.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 1,052 shares during the period. GAMMA Investing LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth approximately $42,000. Teza Capital Management LLC raised its stake in shares of Pacific Premier Bancorp by 13.6% in the 3rd quarter. Teza Capital Management LLC now owns 13,417 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 1,610 shares during the period. Finally, Truist Financial Corp raised its stake in shares of Pacific Premier Bancorp by 5.8% in the 4th quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock valued at $985,000 after acquiring an additional 1,842 shares during the period. Hedge funds and other 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.