Pacific Premier Bancorp (NASDAQ:PPBI) Stock Rating Lowered by DA Davidson

DA Davidson cut shares of Pacific Premier Bancorp (NASDAQ:PPBI - Free Report) from a strong-buy rating to a hold rating in a report released on Thursday morning,Zacks.com reports.

Pacific Premier Bancorp Trading Up 0.4 %

Shares of PPBI traded up $0.09 during mid-day trading on Thursday, reaching $20.63. The company's stock had a trading volume of 1,029,767 shares, compared to its average volume of 624,659. The company's fifty day moving average price is $21.23 and its two-hundred day moving average price is $24.41. Pacific Premier Bancorp has a 52 week low of $18.06 and a 52 week high of $30.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.00 billion, a PE ratio of 12.58 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. The company had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same period in the prior year, the business posted $0.49 EPS. On average, analysts predict that Pacific Premier Bancorp will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 6.40%. Pacific Premier Bancorp's payout ratio is 86.84%.

Hedge Funds Weigh In On Pacific Premier Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised its holdings in Pacific Premier Bancorp by 2.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 25,250 shares of the financial services provider's stock worth $538,000 after acquiring an additional 546 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Pacific Premier Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock worth $10,238,000 after buying an additional 12,542 shares during the period. Teacher Retirement System of Texas bought a new position in Pacific Premier Bancorp in the 1st quarter worth $301,000. KBC Group NV lifted its stake in Pacific Premier Bancorp by 11.0% in the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after purchasing an additional 546 shares in the last quarter. Finally, CWC Advisors LLC. lifted its stake in Pacific Premier Bancorp by 31.7% in the 1st quarter. CWC Advisors LLC. now owns 12,058 shares of the financial services provider's stock worth $257,000 after purchasing an additional 2,905 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

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.