Fisher Asset Management LLC boosted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 58.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 537,000 shares of the financial services provider's stock after acquiring an additional 199,000 shares during the period. Fisher Asset Management LLC owned 0.56% of Pacific Premier Bancorp worth $13,382,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in shares of Pacific Premier Bancorp during the 3rd quarter valued at $60,000. KBC Group NV raised its holdings in Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock valued at $93,000 after acquiring an additional 849 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at about $158,000. FMR LLC boosted its stake in shares of Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock worth $171,000 after acquiring an additional 723 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth about $220,000. Hedge funds and other institutional investors own 93.11% of the company's stock.
Pacific Premier Bancorp Price Performance
Shares of PPBI stock traded down $0.15 during trading hours on Friday, hitting $22.27. The stock had a trading volume of 546,795 shares, compared to its average volume of 555,161. 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 $2.15 billion, a price-to-earnings ratio of 13.58 and a beta of 1.26. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.28. The stock's 50-day moving average price is $24.66 and its two-hundred day moving average price is $25.56.
Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. Equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.
Pacific Premier Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 5.93%. Pacific Premier Bancorp's dividend payout ratio (DPR) is currently 80.49%.
Insiders Place Their Bets
In other news, EVP Michael S. Karr sold 10,290 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the sale, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.21% of the company's stock.
Analysts Set New Price Targets
Separately, DA Davidson lowered their price target 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Pacific Premier Bancorp currently has a consensus rating of "Hold" and an average target price of $27.00.
View Our Latest Analysis on PPBI
Pacific Premier Bancorp Company Profile
(
Free Report)
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.
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