Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) CFO Lori R. Wright Sells 4,668 Shares

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) CFO Lori R. Wright sold 4,668 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total value of $110,118.12. Following the sale, the chief financial officer now owns 31,259 shares of the company’s stock, valued at $737,399.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Pacific Premier Bancorp Stock Performance

PPBI stock traded up $0.22 during trading on Friday, reaching $23.69. 70,731 shares of the company’s stock were exchanged, compared to its average volume of 533,065. The firm has a market cap of $2.28 billion, a PE ratio of 180.55 and a beta of 1.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp, Inc. has a 1-year low of $17.86 and a 1-year high of $30.13. The company’s fifty day moving average price is $22.73 and its 200-day moving average price is $24.30.

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. 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 quarter in the prior year, the firm posted $0.66 EPS. On average, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, May 6th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 5.57%. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.46%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PPBI. Piper Sandler dropped their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. TheStreet downgraded Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Wedbush reiterated a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. Raymond James reiterated an “outperform” rating and set a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. Finally, DA Davidson dropped their target price on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average target price of $26.33.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new stake in shares of Pacific Premier Bancorp during the first quarter valued at $27,000. GAMMA Investing LLC purchased a new stake in Pacific Premier Bancorp during the fourth quarter valued at about $42,000. Bfsg LLC acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $93,000. Bailard Inc. purchased a new position in shares of Pacific Premier Bancorp in the fourth quarter worth approximately $207,000. Finally, FineMark National Bank & Trust acquired a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $234,000. 93.11% of the stock is currently owned by institutional investors.

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.