Insider Buying: Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Buys 500 Shares of Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Joseph L. Garrett bought 500 shares of Pacific Premier Bancorp stock in a transaction on Friday, February 19th. The shares were purchased at an average cost of $38.44 per share, with a total value of $19,220.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

NASDAQ PPBI opened at $39.67 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50 day simple moving average is $35.57 and its 200 day simple moving average is $28.12. Pacific Premier Bancorp, Inc. has a 12 month low of $13.93 and a 12 month high of $40.00. The company has a market capitalization of $3.74 billion, a P/E ratio of 94.45 and a beta of 1.36.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Monday, January 25th. The financial services provider reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.15. Pacific Premier Bancorp had a net margin of 5.38% and a return on equity of 5.64%. During the same period in the prior year, the company posted $0.69 EPS. On average, analysts anticipate that Pacific Premier Bancorp, Inc. will post 0.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Friday, February 5th were issued a $0.30 dividend. This is an increase from Pacific Premier Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Thursday, February 4th. Pacific Premier Bancorp’s payout ratio is presently 46.15%.

Hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in shares of Pacific Premier Bancorp by 4.3% during the third quarter. Sei Investments Co. now owns 478,519 shares of the financial services provider’s stock valued at $9,629,000 after acquiring an additional 19,732 shares during the period. GW&K Investment Management LLC raised its holdings in shares of Pacific Premier Bancorp by 33.1% during the fourth quarter. GW&K Investment Management LLC now owns 1,338,982 shares of the financial services provider’s stock valued at $41,950,000 after acquiring an additional 332,720 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Pacific Premier Bancorp by 13.2% during the third quarter. CIBC Asset Management Inc now owns 11,307 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 1,317 shares during the period. Comerica Bank raised its holdings in shares of Pacific Premier Bancorp by 12.3% during the third quarter. Comerica Bank now owns 113,997 shares of the financial services provider’s stock valued at $3,035,000 after acquiring an additional 12,468 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Pacific Premier Bancorp by 13.0% during the third quarter. US Bancorp DE now owns 23,563 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 2,708 shares during the period. Institutional investors and hedge funds own 85.17% of the company’s stock.

A number of research analysts have issued reports on the stock. Stephens assumed coverage on shares of Pacific Premier Bancorp in a research note on Wednesday, November 4th. They set an “overweight” rating for the company. Raymond James boosted their price target on shares of Pacific Premier Bancorp from $30.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, January 27th. Finally, Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Saturday, January 30th. Two investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Strong Buy” and a consensus target price of $33.50.

About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and passbook savings accounts; and certificates of deposit.

Further Reading: Earnings Per Share

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