Bank of New York Mellon Corp Increases Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Bank of New York Mellon Corp raised its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,128,723 shares of the financial services provider's stock after purchasing an additional 14,310 shares during the quarter. Bank of New York Mellon Corp owned 1.17% of Pacific Premier Bancorp worth $28,128,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in shares of 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 valued at $69,651,000 after purchasing an additional 321,716 shares during the period. Geode Capital Management LLC increased its stake in Pacific Premier Bancorp by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock worth $57,960,000 after buying an additional 25,964 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Pacific Premier Bancorp by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider's stock valued at $32,461,000 after acquiring an additional 52,962 shares during the period. Assenagon Asset Management S.A. lifted its position 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 valued at $18,740,000 after acquiring an additional 107,544 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Pacific Premier Bancorp by 11.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 641,256 shares of the financial services provider's stock worth $16,134,000 after acquiring an additional 64,429 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

Remove Ads

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction on 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 directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.21% of the stock is owned by corporate insiders.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock traded up $0.62 during mid-day trading on Wednesday, reaching $21.67. 461,072 shares of the company's stock traded hands, compared to its average volume of 515,463. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.28. 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 stock has a 50 day moving average of $24.46 and a two-hundred day moving average of $25.49. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 13.25 and a beta of 1.25.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (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%. Equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a $0.33 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 6.09%. Pacific Premier Bancorp's dividend payout ratio is presently 80.49%.

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.