Massachusetts Financial Services Co. MA Acquires 74,644 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Massachusetts Financial Services Co. MA grew its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,842,985 shares of the financial services provider's stock after acquiring an additional 74,644 shares during the period. Massachusetts Financial Services Co. MA owned about 2.95% of Pacific Premier Bancorp worth $70,847,000 at the end of the most recent quarter.

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

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI traded down $1.56 during trading hours on Thursday, hitting $18.46. The company's stock had a trading volume of 179,699 shares, compared to its average volume of 584,514. Pacific Premier Bancorp, Inc. has a 12 month low of $18.21 and a 12 month high of $30.28. The company's 50 day simple moving average is $22.81 and its two-hundred day simple moving average is $24.88. 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 cap of $1.78 billion, a P/E ratio of 11.37 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings data 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 net margin of 17.54% and a return on equity of 5.43%. As a group, sell-side analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp's dividend payout ratio is 80.49%.

Wall Street Analyst Weigh In

Separately, DA Davidson decreased their target price 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 assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Pacific Premier Bancorp has a consensus rating of "Hold" and an average target price 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.