46,325 Shares in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Purchased by Norges Bank

Norges Bank bought a new stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 46,325 shares of the financial services provider's stock, valued at approximately $1,154,000.

A number of other hedge funds also recently made changes to their positions in PPBI. Raymond James Financial Inc. purchased a new stake in Pacific Premier Bancorp during the 4th quarter valued at about $8,720,000. JPMorgan Chase & Co. grew its stake in Pacific Premier Bancorp by 142.2% in the fourth quarter. JPMorgan Chase & Co. now owns 364,604 shares of the financial services provider's stock worth $9,086,000 after purchasing an additional 214,069 shares during the period. Fisher Asset Management LLC grew its position in shares of Pacific Premier Bancorp by 58.9% in the 4th quarter. Fisher Asset Management LLC now owns 537,000 shares of the financial services provider's stock worth $13,382,000 after buying an additional 199,000 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Pacific Premier Bancorp by 16.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider's stock valued at $18,740,000 after purchasing an additional 107,544 shares in the last quarter. Finally, Barclays PLC increased its position 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 buying an additional 84,859 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Stock Down 0.3 %

NASDAQ PPBI traded down $0.05 during midday trading on Thursday, hitting $18.97. 127,341 shares of the company traded hands, compared to its average volume of 593,855. The company's 50-day simple moving average is $22.09 and its 200-day simple moving average is $24.67. Pacific Premier Bancorp, Inc. has a 52 week low of $18.06 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 cap of $1.84 billion, a PE ratio of 11.62 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 EPS for the quarter, topping 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, equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 80.49%.

Analysts Set New Price Targets

Separately, DA Davidson reduced their target price on Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $27.00.

Pacific Premier Bancorp 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.