Short Interest in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Expands By 16.8%

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Get Free Report) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,530,000 shares, a growth of 16.8% from the February 13th total of 1,310,000 shares. Based on an average daily trading volume, of 546,500 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.6% of the shares of the stock are short sold.

Pacific Premier Bancorp Price Performance

PPBI stock traded down $0.13 during midday trading on Friday, hitting $21.62. 2,214,668 shares of the stock were exchanged, compared to its average volume of 511,752. The stock's 50-day moving average price is $24.08 and its 200-day moving average price is $25.29. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 13.18 and a beta of 1.25. Pacific Premier Bancorp has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85.

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 (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%. Research analysts predict that Pacific Premier Bancorp will post 1.34 earnings per share for the current year.

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Pacific Premier Bancorp Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 6.11%. Pacific Premier Bancorp's dividend payout ratio is presently 80.49%.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in Pacific Premier Bancorp during the third quarter worth $60,000. Sterling Capital Management LLC increased its position in Pacific Premier Bancorp by 729.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after buying an additional 2,655 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Pacific Premier Bancorp by 158.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after buying an additional 1,853 shares in the last quarter. KBC Group NV increased its position in Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after buying an additional 849 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth $158,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, DA Davidson reduced 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 research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pacific Premier Bancorp currently has an average rating of "Hold" and an average price target 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.