Victory Capital Management Inc. Decreases Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Victory Capital Management Inc. lessened its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,426,845 shares of the financial services provider's stock after selling 19,001 shares during the quarter. Victory Capital Management Inc. owned about 1.48% of Pacific Premier Bancorp worth $35,557,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PPBI. GSA Capital Partners LLP purchased a new stake in Pacific Premier Bancorp during the 3rd quarter worth about $417,000. KBC Group NV boosted its stake in shares of Pacific Premier Bancorp by 30.0% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after purchasing an additional 849 shares during the last quarter. Natixis Advisors LLC grew its holdings in shares of Pacific Premier Bancorp by 1.0% during the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider's stock worth $1,124,000 after buying an additional 449 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $313,000. Finally, Phocas Financial Corp. lifted its stake in shares of Pacific Premier Bancorp by 65.8% during the third quarter. Phocas Financial Corp. now owns 279,443 shares of the financial services provider's stock valued at $7,031,000 after buying an additional 110,885 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

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Pacific Premier Bancorp Trading Down 0.0 %

PPBI stock traded down $0.01 on Thursday, hitting $21.60. 540,130 shares of the company were exchanged, compared to its average volume of 516,611. 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 stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 13.17 and a beta of 1.25. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28. The business's fifty day moving average is $24.40 and its two-hundred day moving average is $25.47.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data 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 return on equity of 5.43% and a net margin of 17.54%. As a group, research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.11%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp's dividend payout ratio is currently 80.49%.

Insider Transactions at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares in the company, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.21% of the company's stock.

Analyst Ratings Changes

Separately, DA Davidson cut their price target 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 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 stock. According to MarketBeat.com, Pacific Premier Bancorp has a consensus rating of "Hold" and a consensus price target 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.