Pacific Premier Bancorp (NASDAQ:PPBI) Upgraded by StockNews.com to “Sell”

StockNews.com upgraded shares of Pacific Premier Bancorp (NASDAQ:PPBI) to a sell rating in a report issued on Tuesday.

Several other brokerages have also recently weighed in on PPBI. TheStreet cut Pacific Premier Bancorp from a b- rating to a c+ rating in a report on Monday, January 29th. Raymond James reissued an outperform rating and set a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Wedbush dropped their price objective on Pacific Premier Bancorp from $31.00 to $30.00 and set a neutral rating for the company in a report on Tuesday, January 30th. Finally, Stephens reissued an equal weight rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $27.17.

Pacific Premier Bancorp Stock Performance

Pacific Premier Bancorp stock opened at $21.98 on Tuesday. The stock has a 50-day simple moving average of $22.96 and a 200 day simple moving average of $24.08. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $30.13. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same period in the previous year, the business posted $0.66 earnings per share. On average, research analysts anticipate that Pacific Premier Bancorp will post 1.93 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.32 annualized dividend and a dividend yield of 6.01%. Pacific Premier Bancorp’s payout ratio is currently 1,015.46%.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the transaction, the director now owns 14,507 shares of the company’s stock, valued at $347,007.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Pacific Premier Bancorp by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after purchasing an additional 65,694 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pacific Premier Bancorp by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after purchasing an additional 131,448 shares during the period. American Century Companies Inc. grew its position in shares of Pacific Premier Bancorp by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after purchasing an additional 198,874 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Pacific Premier Bancorp by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after purchasing an additional 207,901 shares during the period. Finally, Brown Advisory Inc. grew its position in shares of Pacific Premier Bancorp by 4.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock valued at $37,198,000 after purchasing an additional 66,113 shares during the period. 93.11% of the stock is currently 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.