AlphaQuest LLC Acquires 36,170 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

AlphaQuest LLC grew its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 78.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,034 shares of the financial services provider's stock after buying an additional 36,170 shares during the quarter. AlphaQuest LLC owned approximately 0.09% of Pacific Premier Bancorp worth $2,044,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PPBI. Massachusetts Financial Services Co. MA lifted its holdings in Pacific Premier Bancorp by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider's stock worth $69,651,000 after buying an additional 321,716 shares during the period. Geode Capital Management LLC boosted its holdings in Pacific Premier Bancorp by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock worth $57,960,000 after acquiring an additional 25,964 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Pacific Premier Bancorp by 4.2% in the 4th 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 purchasing an additional 54,518 shares during the period. Bank of New York Mellon Corp increased its position in shares of Pacific Premier Bancorp by 1.3% during the fourth 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 acquiring an additional 14,310 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Pacific Premier Bancorp by 16.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider's stock worth $18,740,000 after purchasing an additional 107,544 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

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Analysts Set New Price Targets

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

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI traded down $0.01 during trading on Thursday, hitting $21.60. 540,130 shares of the company's stock traded hands, compared to its average volume of 516,611. The business has a 50 day moving average of $24.40 and a 200-day moving average of $25.47. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 13.17 and a beta of 1.25.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm 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 of this dividend was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.11%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 80.49%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction 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. The trade was a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.21% of the company's stock.

Pacific Premier Bancorp Company 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.