Franklin Resources Inc. Purchases Shares of 29,718 Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Franklin Resources Inc. acquired a new position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 29,718 shares of the financial services provider's stock, valued at approximately $784,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider's stock worth $129,645,000 after acquiring an additional 238,854 shares during the last quarter. American Century Companies Inc. lifted its stake in Pacific Premier Bancorp by 6.1% in the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider's stock worth $97,695,000 after purchasing an additional 242,721 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Pacific Premier Bancorp by 13.1% during 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 buying an additional 321,716 shares during the period. Geode Capital Management LLC grew its stake in shares of Pacific Premier Bancorp by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock valued at $57,960,000 after buying an additional 25,964 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Pacific Premier Bancorp by 8.5% during the second quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider's stock valued at $35,979,000 after buying an additional 122,285 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wedbush decreased their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. 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 stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $26.50.

Pacific Premier Bancorp Stock Performance

PPBI remained flat at $24.73 during trading on Monday. The company's stock had a trading volume of 343,499 shares, compared to its average volume of 542,298. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.28. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -164.86 and a beta of 1.24. The stock has a 50-day moving average price of $26.90 and a 200 day moving average price of $25.38. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $224.49 million during the quarter, compared to analysts' expectations of $153.23 million. During the same period in the prior year, the firm earned $0.48 EPS. As a group, equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.34%. Pacific Premier Bancorp's dividend payout ratio is presently -880.00%.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the sale, the executive vice president now owns 25,475 shares in the company, valued at $712,281. This represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by corporate insiders.

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.