Pacific Premier Bancorp (NASDAQ:PPBI) Given “Neutral” Rating at Wedbush

Wedbush reiterated their neutral rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a report published on Thursday, Benzinga reports. Wedbush currently has a $25.00 price target on the financial services provider’s stock. Wedbush also issued estimates for Pacific Premier Bancorp’s Q2 2024 earnings at $0.46 EPS, Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.45 EPS, FY2024 earnings at $1.85 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.52 EPS and FY2025 earnings at $2.00 EPS.

A number of other brokerages also recently commented on PPBI. Raymond James reaffirmed an outperform rating and set a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. TheStreet downgraded shares of Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. StockNews.com raised shares of Pacific Premier Bancorp to a sell rating in a research report on Tuesday. Finally, Stephens reaffirmed an equal weight rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Pacific Premier Bancorp currently has an average rating of Hold and a consensus target price of $27.17.

Pacific Premier Bancorp Stock Up 0.3 %

Pacific Premier Bancorp stock traded up $0.07 during midday trading on Thursday, hitting $22.23. 84,190 shares of the stock were exchanged, compared to its average volume of 527,872. The company has a 50 day moving average price of $23.02 and a two-hundred day moving average price of $24.10. The firm has a market cap of $2.13 billion, a P/E ratio of 170.47 and a beta of 1.21. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year 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 posted 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. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The firm had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. During the same period in the previous year, the business posted $0.66 EPS. On average, sell-side analysts predict that Pacific Premier Bancorp will post 1.93 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

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

Insider Activity at Pacific Premier Bancorp

In other news, Director Barbara Polsky bought 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the purchase, the director now owns 14,507 shares of the company’s stock, valued at $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 owned by company insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPBI. American Century Companies Inc. lifted its holdings in shares of Pacific Premier Bancorp by 5.0% during the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after buying an additional 198,874 shares in the last quarter. EJF Capital LLC bought a new position in shares of Pacific Premier Bancorp in the third quarter worth about $1,632,000. Natixis Advisors L.P. lifted its holdings in shares of Pacific Premier Bancorp by 26.5% in the third quarter. Natixis Advisors L.P. now owns 44,958 shares of the financial services provider’s stock worth $978,000 after acquiring an additional 9,406 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Pacific Premier Bancorp by 1.8% in the third quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider’s stock worth $30,299,000 after acquiring an additional 24,230 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Pacific Premier Bancorp in the third quarter worth about $200,000. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Company Profile

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.