Pacific Premier Bancorp (NASDAQ:PPBI) Trading Up 15.5% – What’s Next?

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)’s share price was up 15.5% during trading on Wednesday . The company traded as high as $29.18 and last traded at $28.99. Approximately 289,789 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 540,224 shares. The stock had previously closed at $25.10.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PPBI. Stephens upped their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Wedbush dropped their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, Raymond James raised their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One 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. Based on data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day simple moving average of $25.14 and a two-hundred day simple moving average of $24.05. The firm has a market cap of $2.80 billion, a PE ratio of -193.39 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period in the previous year, the business posted $0.48 earnings per share. Equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.59 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 4.55%. Pacific Premier Bancorp’s payout ratio is presently -879.94%.

Insider Activity

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the sale, the director now directly owns 123,794 shares in the company, valued at approximately $2,924,014.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Pacific Premier Bancorp by 77.3% during the first quarter. BNP Paribas Financial Markets now owns 47,301 shares of the financial services provider’s stock worth $1,135,000 after purchasing an additional 20,619 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth $217,000. Fidelis Capital Partners LLC acquired a new position in Pacific Premier Bancorp during the first quarter valued at $27,000. GSA Capital Partners LLP purchased a new stake in Pacific Premier Bancorp in the first quarter valued at $858,000. Finally, Texas Permanent School Fund Corp boosted its stake in shares of Pacific Premier Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 83,931 shares of the financial services provider’s stock worth $2,014,000 after buying an additional 1,123 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.