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PPBI - Pacific Premier Bancorp: Downgrading To Hold Expecting Earnings To Decline
Pacific Premier Bancorp Inc
2024-02-13 23:39:20 ET
Summary
Considering the regional economic factors, I’m expecting loan growth to be flatter this year and the average loan balance to be lower in 2024 compared to 2023.
The margin will likely continue to rise thanks to the management’s balance sheet repositioning strategy.
The December 2024 target price suggests a small upside from the current market price.
PPBI is offering a high dividend yield of over 5%. The earnings outlook does not threaten the dividend payout.