Pacific Premier Bancorp (NASDAQ:PPBI) PT Lowered to $27.00 at DA Davidson

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) had its price target decreased by investment analysts at DA Davidson from $32.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. DA Davidson's price objective points to a potential upside of 21.84% from the stock's current price.

Several other analysts also recently issued reports on the company. StockNews.com upgraded Pacific Premier Bancorp to a "sell" rating in a research note on Tuesday. TheStreet cut Pacific Premier Bancorp from a "b-" rating to a "c+" rating in a report on Monday, January 29th. Raymond James reaffirmed an "outperform" rating and issued a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday. Stephens reissued an "equal weight" rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, Wedbush restated a "neutral" rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Thursday. One equities research 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's stock. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of "Hold" and a consensus target price of $27.17.

Pacific Premier Bancorp Stock Down 2.6 %

Pacific Premier Bancorp stock traded down $0.58 during midday trading on Thursday, reaching $22.16. The stock had a trading volume of 719,762 shares, compared to its average volume of 533,462. The stock has a market capitalization of $2.12 billion, a P/E ratio of 73.87 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 firm's fifty day simple moving average is $23.02 and its 200-day simple moving average is $24.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. The firm had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, analysts expect that Pacific Premier Bancorp will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Barbara Polsky acquired 1,200 shares of the stock in a transaction dated Thursday, March 21st. The stock was purchased 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 directly owns 14,507 shares in the company, valued at approximately $347,007.44. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.21% of the company's stock.

Institutional Trading of Pacific Premier Bancorp

Several institutional investors and hedge funds have recently modified their holdings of PPBI. Norges Bank purchased a new stake in Pacific Premier Bancorp in the fourth quarter worth $34,788,000. Schroder Investment Management Group bought a new stake in Pacific Premier Bancorp during the third quarter valued at $6,264,000. Ieq Capital LLC bought a new stake in Pacific Premier Bancorp during the third quarter valued at $6,091,000. Eagle Asset Management Inc. boosted its stake in Pacific Premier Bancorp by 1,724.3% during 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 buying an additional 276,538 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Pacific Premier Bancorp by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,278,555 shares of the financial services provider's stock worth $49,581,000 after purchasing an additional 269,119 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other 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.