Kennedy Capital Management LLC Lowers Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Kennedy Capital Management LLC decreased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,214 shares of the financial services provider's stock after selling 14,237 shares during the quarter. Kennedy Capital Management LLC owned 0.26% of Pacific Premier Bancorp worth $6,185,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Pacific Premier Bancorp by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider's stock worth $3,787,000 after acquiring an additional 8,145 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Pacific Premier Bancorp by 1.3% during 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 in the last quarter. Franklin Resources Inc. bought a new stake in shares of Pacific Premier Bancorp in the 3rd quarter worth approximately $784,000. Proficio Capital Partners LLC acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at $1,009,000. Finally, Barclays PLC raised its stake in Pacific Premier Bancorp by 71.4% during the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider's stock valued at $5,123,000 after purchasing an additional 84,859 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Performance

PPBI stock traded up $0.23 during midday trading on Thursday, reaching $19.25. 367,955 shares of the company's stock traded hands, compared to its average volume of 594,806. Pacific Premier Bancorp, Inc. has a 52 week low of $18.06 and a 52 week high of $30.28. The company has a 50-day moving average price of $22.09 and a two-hundred day moving average price of $24.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $1.87 billion, a PE ratio of 11.75 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating 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%. As a group, equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.86%. Pacific Premier Bancorp's payout ratio is currently 80.49%.

Analyst Upgrades and Downgrades

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

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.