Pacific Premier price target lowered to $30 from $33 at DA Davidson

DA Davidson lowered the firm’s price target on Pacific Premier (PPBI) to $30 from $33 and keeps a Buy rating on the shares. The company’s Q4 earnings topped estimates, and the management’s perspective has turned more to a growth dynamic as new loan originations increased this quarter and 2025 loan growth projections are positive, the analyst tells investors in a research note. DA Davidson adds however that Pacific’s lower than expected net interest income in the quarter was driven by net interest margin contraction.