Pacific Premier Bancorp (NASDAQ:PPBI) Earns “Neutral” Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI) in a research note published on Thursday morning, Benzinga reports. Wedbush currently has a $25.00 price objective 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 research analysts have also weighed in on PPBI. StockNews.com upgraded Pacific Premier Bancorp to a sell rating in a report on Tuesday. Stephens reiterated an equal weight rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a report on Monday, January 29th. Finally, Raymond James reiterated an outperform rating and set a $29.00 price target (up previously from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $27.17.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock traded up $0.07 during trading on Thursday, reaching $22.23. The company had a trading volume of 84,190 shares, compared to its average volume of 527,872. The firm’s 50-day simple moving average is $23.02 and its 200 day simple moving average is $24.10. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The firm has a market capitalization of $2.13 billion, a PE ratio of 170.47 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $166.98 million. During the same quarter last year, the company earned $0.66 EPS. As a group, equities research analysts anticipate that Pacific Premier Bancorp will post 1.93 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm 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. The ex-dividend date is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 5.94%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

Insiders Place Their Bets

In other Pacific Premier Bancorp 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 cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the purchase, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Pacific Premier Bancorp in the fourth quarter valued at approximately $34,788,000. Schroder Investment Management Group purchased a new position in Pacific Premier Bancorp in the third quarter valued at approximately $6,264,000. Ieq Capital LLC acquired a new stake in shares of Pacific Premier Bancorp in the third quarter valued at approximately $6,091,000. Eagle Asset Management Inc. boosted its holdings in shares of Pacific Premier Bancorp by 1,724.3% in the fourth quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock valued at $8,517,000 after acquiring an additional 276,538 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Pacific Premier Bancorp by 13.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,278,555 shares of the financial services provider’s stock valued at $49,581,000 after acquiring an additional 269,119 shares during the period. 93.11% of the stock is currently owned by hedge funds and other 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.