Pacific Premier Bancorp (NASDAQ:PPBI) Given Outperform Rating at Raymond James

Raymond James restated their outperform rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a $25.00 price objective on the financial services provider’s stock, down from their prior price objective of $29.00.

PPBI has been the subject of several other reports. TheStreet downgraded Pacific Premier Bancorp from a b- rating to a c+ rating in a research note on Monday, January 29th. StockNews.com raised Pacific Premier Bancorp to a sell rating in a research note on Tuesday. Stephens reissued an equal weight rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Wedbush reissued a neutral rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $27.17.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ PPBI traded up $0.08 during trading hours on Thursday, reaching $22.24. The stock had a trading volume of 95,481 shares, compared to its average volume of 527,980. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 170.47 and a beta of 1.21. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a fifty-two week low of $17.53 and a fifty-two week high of $30.13. The firm has a 50-day moving average of $23.02 and a 200-day moving average of $24.10.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same period in the prior year, the firm earned $0.66 EPS. Equities research analysts predict that Pacific Premier Bancorp will post 1.93 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.46%.

Insider Buying and Selling

In related news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the acquisition, the director now owns 14,507 shares in the company, valued at $347,007.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several hedge funds have recently made changes to their positions in the business. Verdence Capital Advisors LLC boosted its holdings in shares of Pacific Premier Bancorp by 19.8% during the first 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. boosted 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 purchasing an additional 55,357 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Pacific Premier Bancorp by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after purchasing an additional 65,694 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Pacific Premier Bancorp by 16.3% during the fourth quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock worth $9,321,000 after purchasing an additional 44,919 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Pacific Premier Bancorp by 6.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock worth $43,002,000 after purchasing an additional 86,564 shares during the last quarter. Institutional investors and hedge funds 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.