KLP Kapitalforvaltning AS Takes Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

KLP Kapitalforvaltning AS acquired a new position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,740 shares of the financial services provider's stock, valued at approximately $517,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Pacific Premier Bancorp in the 3rd quarter worth about $60,000. Smartleaf Asset Management LLC lifted its holdings in Pacific Premier Bancorp by 158.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after acquiring an additional 1,853 shares during the last quarter. KBC Group NV boosted its stake in Pacific Premier Bancorp by 34.7% in the fourth quarter. KBC Group NV now owns 4,955 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 1,276 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $158,000. Finally, FMR LLC raised its position in shares of Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock worth $171,000 after purchasing an additional 723 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Performance

PPBI stock traded down $0.04 on Tuesday, reaching $19.00. The company's stock had a trading volume of 1,107,874 shares, compared to its average volume of 583,774. Pacific Premier Bancorp, Inc. has a 52 week low of $18.35 and a 52 week high of $30.28. 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 company has a market capitalization of $1.83 billion, a P/E ratio of 11.59 and a beta of 1.16. The firm has a fifty day moving average of $23.04 and a two-hundred day moving average of $24.95.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly 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%. As a group, analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business 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 6.95%. Pacific Premier Bancorp's payout ratio is 80.49%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lowered 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 investment 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 company has a consensus rating of "Hold" and an average target price of $27.00.

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.