American Century Companies Inc. Sells 1,647,398 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

American Century Companies Inc. lessened its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 38.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,606,525 shares of the financial services provider's stock after selling 1,647,398 shares during the quarter. American Century Companies Inc. owned about 2.70% of Pacific Premier Bancorp worth $64,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC lifted its position in Pacific Premier Bancorp by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,313,437 shares of the financial services provider's stock valued at $32,731,000 after purchasing an additional 30,647 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $223,000. HighTower Advisors LLC lifted its holdings in shares of Pacific Premier Bancorp by 4.2% during the 4th quarter. HighTower Advisors LLC now owns 19,371 shares of the financial services provider's stock worth $483,000 after acquiring an additional 772 shares during the last quarter. AlphaQuest LLC grew its position in Pacific Premier Bancorp by 78.9% in the fourth quarter. AlphaQuest LLC now owns 82,034 shares of the financial services provider's stock worth $2,044,000 after acquiring an additional 36,170 shares in the last quarter. Finally, Amundi increased its stake in Pacific Premier Bancorp by 184.6% in the fourth quarter. Amundi now owns 48,317 shares of the financial services provider's stock valued at $1,162,000 after acquiring an additional 31,342 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

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Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price target 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 equities 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 company. Based on data from MarketBeat, Pacific Premier Bancorp has a consensus rating of "Hold" and an average price target of $27.00.

Pacific Premier Bancorp Trading Down 2.6 %

NASDAQ PPBI traded down $0.57 during trading on Friday, hitting $21.25. 600,771 shares of the company's stock traded hands, compared to its average volume of 561,666. The stock has a fifty day moving average of $23.85 and a two-hundred day moving average of $25.20. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.28. The firm has a market cap of $2.05 billion, a P/E ratio of 12.96 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted 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, sell-side analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 6.21%. Pacific Premier Bancorp's dividend payout ratio is currently 80.49%.

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.