BlackRock Fund Advisors recently announced the acquisition of new stake in Pacific Premier Bancorp Inc. (NASDAQ:PPBI). The institutional investor has increased its shareholding in the Financial company by 1.26% to 13.22 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 13.91% valued currently at $488.33 million. In addition, Dimensional Fund Advisors LP raised its holdings by 0.24 million to 5.59 million shares.
With over 0.43 million Pacific Premier Bancorp Inc. (PPBI) shares trading Tuesday and a closing price of $31.29 on the day, the dollar volume was approximately $13.43 million. The shares have shown a positive half year performance of 4.16% and its price on 01/10/23 lost nearly -0.26%. Currently, there are 93.79M common shares owned by the public and among those 93.32M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for PPBI have a consensus price objective of $36.29. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $33.00. The average price target is 13.78% above its recent price level and an upside to the estimated low will see the stock gain 5.18% over that period. But an upside of 21.78% will see the stock hit the forecast high price target while median target price for the stock is $36.00.
Insiders at the company have transacted a total of 99 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 51 of these insider trades were purchases, accounting for 471,733 shares. Insider sales of the common stock occurred on 48 occasions, with total insider shares sold totaling 235,414 shares.
The top 3 mutual fund holders in Pacific Premier Bancorp Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 6.65 million shares of the company’s stock, all valued at over $245.71 million. Vanguard Total Stock Market Index bought 4396.0 shares to see its total holdings expand to 2.9 million shares valued at over $106.98 million and representing 3.05% of the shares outstanding. Vanguard Small Cap Index Fund bought 4402.0 shares to bring its total holdings to over 2.45 million shares at a value of $90.71 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.58% of the shares outstanding.
Shares of Pacific Premier Bancorp Inc. (NASDAQ: PPBI) opened at $31.62, up $0.25 from a prior closing price of $31.37. However, the script later moved the day high at 31.56, down -0.26%. The company’s stock has a 5-day price change of 0.38% and -2.43% over the past three months. PPBI shares are trading -0.86% year to date (YTD), with the 12-month market performance down to -29.13% lower. It has a 12-month low price of $27.92 and touched a high of $44.57 over the same period. PPBI has an average intraday trading volume of 416.30K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.07%, -9.04%, and -5.30% respectively.
Institutional ownership of Pacific Premier Bancorp Inc. (NASDAQ: PPBI) shares accounts for 96.90% of the company’s 93.79M shares outstanding. Mutual fund holders own 32.06%, while other institutional holders and individual stakeholders account for 62.32% and 3.12% respectively.
It has a market capitalization of $2.89B and a beta (3y monthly) value of 1.23. The stock’s trailing 12-month PE ratio is 10.07, while the earnings-per-share (ttm) stands at $3.11. The company has a PEG of 1.26 and the debt-to-equity ratio at 0.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.03% over the week and 2.85% over the month.
Analysts forecast that Pacific Premier Bancorp Inc. (PPBI) will achieve an EPS of $0.78 for the current quarter, $0.75 for the next quarter and $3.02 for 2023. The lowest estimate earnings-per-share for the quarter is $0.74 while analysts give the company a high EPS estimate of $0.83. Comparatively, EPS for the current quarter was $0.89 a year ago. Earnings per share for the fiscal year are expected to increase by 377.70%, and 0.03% over the next financial year. EPS should shrink at an annualized rate of 8.00% over the next five years, compared to 19.60% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Pacific Premier Bancorp Inc. (PPBI) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 4 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PPBI, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on July 07, 2022, with the firm’s price target at $41-$35. Stephens coverage for the Pacific Premier Bancorp Inc. (PPBI) stock in a research note released on January 25, 2022 offered a Equal-Weight rating with a price target of $45. Raymond James was of a view on October 07, 2021 that the stock is Outperform, while Wedbush gave the stock Neutral rating on May 26, 2021, issuing a price target of $48. Stephens on their part issued Overweight rating on November 04, 2020.
