Raymond James Reaffirms Outperform Rating for Pacific Premier Bancorp (NASDAQ:PPBI)

Raymond James reiterated their outperform rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI - Free Report) in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a $25.00 target price on the financial services provider's stock, down from their previous target price of $29.00.

Several other brokerages also recently weighed in on PPBI. TheStreet downgraded Pacific Premier Bancorp from a b- rating to a c+ rating in a research note on Monday, January 29th. StockNews.com raised Pacific Premier Bancorp to a sell rating in a report on Tuesday. Keefe, Bruyette & Woods lowered their price target on Pacific Premier Bancorp from $29.00 to $27.00 and set a market perform rating for the company in a report on Thursday. Stephens reiterated an equal weight rating and issued a $28.00 target price 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 price objective on shares of Pacific Premier Bancorp in a research note on Thursday. 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $27.17.

Pacific Premier Bancorp Trading Down 2.6 %

PPBI stock traded down $0.58 during mid-day trading on Thursday, reaching $22.16. The company had a trading volume of 719,762 shares, compared to its average volume of 533,462. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The company has a market capitalization of $2.12 billion, a PE ratio of 73.87 and a beta of 1.21. The firm has a 50 day moving average of $23.04 and a 200 day moving average of $24.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $239.21 million for the quarter, compared to analysts' expectations of $166.98 million. During the same quarter last year, the firm earned $0.66 EPS. On average, equities analysts predict that Pacific Premier Bancorp will post 1.96 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 5.96%. Pacific Premier Bancorp's payout ratio is 440.00%.

Insider Buying and Selling

In related news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the transaction, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.21% of the stock is currently owned by insiders.

Institutional Trading of Pacific Premier Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its position 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 valued at $90,387,000 after acquiring an additional 198,874 shares during the last quarter. EJF Capital LLC acquired a new stake in Pacific Premier Bancorp in the 3rd quarter valued at approximately $1,632,000. Natixis Advisors L.P. increased its holdings in Pacific Premier Bancorp by 26.5% in the 3rd quarter. Natixis Advisors L.P. now owns 44,958 shares of the financial services provider's stock valued at $978,000 after purchasing an additional 9,406 shares during the last quarter. Invesco Ltd. increased its holdings in Pacific Premier Bancorp by 1.8% in the 3rd quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider's stock valued at $30,299,000 after purchasing an additional 24,230 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in Pacific Premier Bancorp in the 3rd quarter valued at approximately $200,000. 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.