ExodusPoint Capital Management LP Purchases 187,228 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

ExodusPoint Capital Management LP boosted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 105.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,261 shares of the financial services provider's stock after purchasing an additional 187,228 shares during the period. ExodusPoint Capital Management LP owned approximately 0.38% of Pacific Premier Bancorp worth $9,102,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Pacific Premier Bancorp by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider's stock worth $280,138,000 after purchasing an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Pacific Premier Bancorp by 2.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider's stock worth $70,847,000 after purchasing an additional 74,644 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 25,964 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Pacific Premier Bancorp by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider's stock valued at $36,567,000 after acquiring an additional 7,465 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Pacific Premier Bancorp by 4.2% in 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 purchasing an additional 54,518 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Trading Down 8.1 %

NASDAQ PPBI traded down $1.62 on Thursday, hitting $18.40. 243,180 shares of the company were exchanged, compared to its average volume of 584,753. Pacific Premier Bancorp, Inc. has a twelve month low of $18.19 and a twelve month high of $30.28. The company's 50 day moving average price is $22.81 and its 200-day moving average price is $24.88. The firm has a market capitalization of $1.77 billion, a P/E ratio of 11.25 and a beta of 1.16. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85.

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%. Analysts predict 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 announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 7.18%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 80.49%.

Wall Street Analysts Forecast Growth

Separately, 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 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 MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.