Wedbush Reiterates Neutral Rating for Pacific Premier Bancorp (NASDAQ:PPBI)

Wedbush reaffirmed their neutral rating on shares of Pacific Premier Bancorp (NASDAQ:PPBI - Free Report) in a report released on Wednesday, Benzinga reports. They currently have a $25.00 price target on the financial services provider's stock.

A number of other analysts have also issued reports on the company. TheStreet lowered Pacific Premier Bancorp from a b- rating to a c+ rating in a research report on Monday, January 29th. DA Davidson dropped their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a buy rating for the company in a research note on Thursday, April 25th. Piper Sandler reduced their price objective on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an overweight rating on the stock in a research note on Monday, April 29th. StockNews.com upgraded shares of Pacific Premier Bancorp to a sell rating in a research note on Friday, May 17th. Finally, Raymond James restated 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $26.33.

Pacific Premier Bancorp Stock Down 1.1 %

Shares of NASDAQ:PPBI traded down $0.25 during mid-day trading on Wednesday, hitting $23.05. 326,965 shares of the company traded hands, compared to its average volume of 533,930. The firm's 50 day simple moving average is $22.73 and its 200 day simple moving average is $24.44. The firm has a market cap of $2.22 billion, a P/E ratio of 177.86 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. Pacific Premier Bancorp has a 52-week low of $17.86 and a 52-week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.01. The business had revenue of $239.21 million for the quarter, compared to analysts' expectations of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same period in the previous year, the company posted $0.66 earnings per share. On average, equities analysts anticipate that Pacific Premier Bancorp will post 1.78 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date was Friday, May 3rd. Pacific Premier Bancorp's payout ratio is 1,015.46%.

Insider Activity at Pacific Premier Bancorp

In related news, CFO Lori R. Wright sold 4,668 shares of the company'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 completion of the sale, the chief financial officer now owns 31,259 shares of the company's stock, valued at $737,399.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 price 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 of the company's stock, valued at approximately $347,007.44. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Lori R. Wright sold 4,668 shares of the company's stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the sale, the chief financial officer now directly owns 31,259 shares of the company's stock, valued at $737,399.81. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in PPBI. Kennedy Capital Management LLC acquired a new stake in shares of Pacific Premier Bancorp during the 1st quarter valued at $7,812,000. MQS Management LLC acquired a new stake in shares of Pacific Premier Bancorp during the first quarter worth $235,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Pacific Premier Bancorp by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 112,161 shares of the financial services provider's stock valued at $2,689,000 after purchasing an additional 4,627 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Pacific Premier Bancorp in the 1st quarter valued at $766,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Pacific Premier Bancorp by 30.9% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 415,479 shares of the financial services provider's stock worth $9,971,000 after purchasing an additional 98,139 shares in the last quarter. 93.11% of the stock is currently 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.