Pacific Premier Bancorp (NASDAQ:PPBI) Hits New 52-Week Low – What’s Next?

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) hit a new 52-week low during trading on Wednesday . The company traded as low as $18.21 and last traded at $18.42, with a volume of 183589 shares traded. The stock had previously closed at $19.00.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their target price on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. One investment 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.00.

Pacific Premier Bancorp Price Performance

The company has a market cap of $1.93 billion, a price-to-earnings ratio of 12.21 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $23.04 and a two-hundred day moving average price of $24.95.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. As a group, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 6.59%. Pacific Premier Bancorp’s payout ratio is currently 80.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPBI. JPMorgan Chase & Co. raised its holdings in shares of Pacific Premier Bancorp by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock worth $3,787,000 after buying an additional 8,145 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Pacific Premier Bancorp by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider’s stock valued at $28,128,000 after acquiring an additional 14,310 shares during the period. Franklin Resources Inc. bought a new position in shares of Pacific Premier Bancorp during the third quarter valued at $784,000. Proficio Capital Partners LLC acquired a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at $1,009,000. Finally, Barclays PLC grew its holdings in shares of Pacific Premier Bancorp by 71.4% in the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock worth $5,123,000 after purchasing an additional 84,859 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.