StockNews.com Initiates Coverage on Pacific Premier Bancorp (NASDAQ:PPBI)

StockNews.com started coverage on shares of Pacific Premier Bancorp (NASDAQ:PPBI - Free Report) in a research note published on Wednesday. The brokerage issued a sell rating on the financial services provider's stock.

Separately, DA Davidson cut shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $27.25.

Pacific Premier Bancorp Stock Performance

PPBI traded down $0.19 on Wednesday, reaching $22.27. The stock had a trading volume of 654,169 shares, compared to its average volume of 642,379. The company has a market cap of $2.16 billion, a P/E ratio of 13.58 and a beta of 1.18. The business's 50-day moving average price is $20.80 and its two-hundred day moving average price is $23.99. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp has a 12-month low of $18.06 and a 12-month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. The business had revenue of $144.83 million during the quarter, compared to analysts' expectations of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same quarter in the previous year, the company earned $0.49 earnings per share. Sell-side analysts forecast that Pacific Premier Bancorp will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 annualized dividend and a yield of 5.93%. Pacific Premier Bancorp's dividend payout ratio is presently 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the transaction, the chief operating officer now directly owns 140,283 shares in the company, valued at $2,844,939.24. The trade was a 9.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Caxton Associates LLP acquired a new position in Pacific Premier Bancorp in the 1st quarter valued at about $501,000. Teza Capital Management LLC acquired a new position in Pacific Premier Bancorp in the 1st quarter valued at about $376,000. Millennium Management LLC boosted its holdings in Pacific Premier Bancorp by 1.4% in the 1st quarter. Millennium Management LLC now owns 696,922 shares of the financial services provider's stock valued at $14,858,000 after purchasing an additional 9,742 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Pacific Premier Bancorp by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,013 shares of the financial services provider's stock valued at $1,216,000 after purchasing an additional 2,485 shares during the last quarter. Finally, EJF Capital LLC boosted its holdings in Pacific Premier Bancorp by 165.1% in the 1st quarter. EJF Capital LLC now owns 104,261 shares of the financial services provider's stock valued at $2,223,000 after purchasing an additional 64,935 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

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.