Aigen Investment Management LP Makes New $316,000 Investment in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Aigen Investment Management LP acquired a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 12,692 shares of the financial services provider's stock, valued at approximately $316,000.

Several other large investors have also recently added to or reduced their stakes in PPBI. Proficio Capital Partners LLC purchased a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at about $1,009,000. Charles Schwab Investment Management Inc. lifted its position in Pacific Premier Bancorp by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider's stock valued at $33,510,000 after buying an additional 54,518 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Pacific Premier Bancorp by 158.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,853 shares during the period. Fisher Asset Management LLC grew its position in Pacific Premier Bancorp by 58.9% in the fourth quarter. Fisher Asset Management LLC now owns 537,000 shares of the financial services provider's stock valued at $13,382,000 after acquiring an additional 199,000 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Pacific Premier Bancorp by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider's stock worth $28,128,000 after buying an additional 14,310 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Separately, DA Davidson decreased their price target on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of "Hold" and an average price target of $27.00.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI traded up $0.56 during trading hours on Wednesday, reaching $21.61. 554,270 shares of the company's stock were exchanged, compared to its average volume of 516,388. The company has a market capitalization of $2.08 billion, a P/E ratio of 13.17 and a beta of 1.25. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28. The business's 50-day simple moving average is $24.46 and its two-hundred day simple moving average is $25.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. Sell-side analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.11%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp's payout ratio is presently 80.49%.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.21% of the company's stock.

About Pacific Premier Bancorp

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.