Pacific Premier Bancorp (NASDAQ:PPBI) Given New $26.00 Price Target at Stephens

Pacific Premier Bancorp (NASDAQ:PPBI) had its price objective increased by analysts at Stephens from $25.00 to $26.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target would indicate a potential downside of 4.87% from the company’s previous close.

Several other analysts have also commented on PPBI. DA Davidson dropped their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Piper Sandler cut their price target on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Keefe, Bruyette & Woods decreased their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Finally, Raymond James reissued an “outperform” rating and set a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. One equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Stock Performance

Shares of PPBI traded up $0.78 during trading hours on Thursday, hitting $27.33. The stock had a trading volume of 325,002 shares, compared to its average volume of 532,044. The firm has a 50-day moving average price of $22.91 and a 200 day moving average price of $23.63. Pacific Premier Bancorp has a fifty-two week low of $17.86 and a fifty-two week high of $30.13. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 209.86 and a beta of 1.24. 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 (NASDAQ:PPBI) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue was down 9.5% on a year-over-year basis. As a group, research analysts anticipate that Pacific Premier Bancorp will post 1.78 EPS for the current year.

Insider Activity

In other news, CFO Lori R. Wright sold 4,668 shares of the firm’s stock in a transaction that occurred on 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 owns 31,259 shares in the company, valued at approximately $737,399.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System boosted its stake in Pacific Premier Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock worth $1,114,000 after buying an additional 1,000 shares during the period. AlphaMark Advisors LLC acquired a new stake in shares of Pacific Premier Bancorp in the second quarter valued at $317,000. SG Americas Securities LLC raised its holdings in shares of Pacific Premier Bancorp by 215.7% in the 2nd quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock valued at $837,000 after buying an additional 24,893 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in Pacific Premier Bancorp by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after acquiring an additional 858 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new position in Pacific Premier Bancorp during the 1st quarter valued at about $7,812,000. 93.11% of the stock is owned by institutional investors and hedge funds.

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.