Summit Trail Advisors LLC Buys New Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Summit Trail Advisors LLC bought a new stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,371 shares of the financial services provider's stock, valued at approximately $383,000.

Several other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake 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 worth $30,000 after buying an additional 649 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Pacific Premier Bancorp in the 3rd quarter worth approximately $60,000. KBC Group NV grew its stake in shares of Pacific Premier Bancorp by 30.0% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after purchasing an additional 849 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at $158,000. Finally, FMR LLC grew its position in Pacific Premier Bancorp by 11.9% during the third quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock valued at $171,000 after buying an additional 723 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PPBI shares. DA Davidson dropped their target price on Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Friday, January 24th. Wedbush decreased their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp has a consensus rating of "Hold" and a consensus price target of $27.00.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the sale, the executive vice president now owns 79,474 shares of the company's stock, valued at $2,135,466.38. This represents a 11.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.21% of the stock is currently owned by insiders.

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock traded down $0.02 on Friday, hitting $25.16. 401,921 shares of the company were exchanged, compared to its average volume of 561,813. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $25.31 and a 200 day moving average price of $25.63. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 15.34 and a beta of 1.26. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. As a group, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.25%. Pacific Premier Bancorp's payout ratio is 80.49%.

Pacific Premier Bancorp Profile

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.