Pacific Premier Bancorp (NASDAQ:PPBI) Reaches New 1-Year High – Time to Buy?

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.14 and last traded at $30.14, with a volume of 65656 shares traded. The stock had previously closed at $28.73.

Wall Street Analysts Forecast Growth

Separately, Wedbush reduced their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Stock Performance

The firm has a market capitalization of $2.77 billion, a PE ratio of -193.05 and a beta of 1.21. The business has a 50-day simple moving average of $26.22 and a 200-day simple moving average of $24.64. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the previous year, the firm earned $0.48 EPS. Equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.59%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

Insider Buying and Selling

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This represents a 11.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,023 shares of company stock valued at $1,245,713. Company insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 649 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Pacific Premier Bancorp during the 3rd quarter valued at about $60,000. nVerses Capital LLC raised its holdings in shares of Pacific Premier Bancorp by 93.8% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,500 shares in the last quarter. KBC Group NV boosted its stake in shares of Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 849 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Pacific Premier Bancorp during the second quarter valued at approximately $95,000. 93.11% of the stock is owned by institutional investors.

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.