Charles Schwab Investment Management Inc. Buys 54,518 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Charles Schwab Investment Management Inc. raised its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,344,690 shares of the financial services provider's stock after buying an additional 54,518 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.39% of Pacific Premier Bancorp worth $33,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in shares of Pacific Premier Bancorp by 13.1% in the third 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 acquiring an additional 321,716 shares during the period. Geode Capital Management LLC boosted its holdings 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 valued at $57,960,000 after purchasing an additional 25,964 shares during the period. Bank of New York Mellon Corp boosted 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 valued at $28,128,000 after purchasing an additional 14,310 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Pacific Premier Bancorp by 16.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider's stock valued at $18,740,000 after purchasing an additional 107,544 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings 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 purchasing an additional 64,429 shares during the period. 93.11% of the stock is currently owned by institutional investors.

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Pacific Premier Bancorp Price Performance

PPBI stock traded down $0.20 during mid-day trading on Thursday, hitting $21.79. 219,723 shares of the stock were exchanged, compared to its average volume of 504,652. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 13.34 and a beta of 1.25. The business has a fifty day moving average price of $24.15 and a 200 day moving average price of $25.34. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28.

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

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp's payout ratio is presently 80.49%.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective on 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 assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $27.00.

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.