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.
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Pacific Premier Bancorp: Downgrading To Hold, Expecting Earnings To Decline