DA Davidson Has Lowered Expectations for Pacific Premier Bancorp (NASDAQ:PPBI) Stock Price

Pacific Premier Bancorp (NASDAQ:PPBI) had its target price decreased by research analysts at DA Davidson from $33.00 to $30.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 21.07% from the stock’s previous close.

Separately, Wedbush lowered their target price on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and an average target price of $27.00.

Pacific Premier Bancorp Trading Down 0.6 %

Shares of PPBI stock opened at $24.78 on Friday. Pacific Premier Bancorp has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The firm’s 50 day moving average price is $26.09 and its two-hundred day moving average price is $25.68. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -165.88 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. On average, analysts anticipate that Pacific Premier Bancorp will post 1.59 EPS for the current year.

Insider Activity

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the sale, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. 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 added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its holdings in Pacific Premier Bancorp by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after acquiring an additional 321,716 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Pacific Premier Bancorp by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock worth $57,960,000 after purchasing an additional 25,964 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pacific Premier Bancorp by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider’s stock valued at $32,461,000 after purchasing an additional 52,962 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Pacific Premier Bancorp by 16.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider’s stock valued at $18,740,000 after buying an additional 107,544 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Pacific Premier Bancorp by 11.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 641,256 shares of the financial services provider’s stock worth $16,134,000 after purchasing an additional 64,429 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.