Phocas Financial Corp. Reduces Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Phocas Financial Corp. lessened its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 85.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 41,970 shares of the financial services provider's stock after selling 237,473 shares during the quarter. Phocas Financial Corp.'s holdings in Pacific Premier Bancorp were worth $1,046,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its holdings in Pacific Premier Bancorp by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider's stock worth $69,651,000 after acquiring an additional 321,716 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Pacific Premier Bancorp by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock worth $57,960,000 after acquiring an additional 25,964 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Pacific Premier Bancorp by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider's stock worth $32,461,000 after acquiring an additional 52,962 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Pacific Premier Bancorp by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider's stock worth $28,128,000 after acquiring an additional 14,310 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Pacific Premier Bancorp by 16.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider's stock worth $18,740,000 after acquiring an additional 107,544 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

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Pacific Premier Bancorp Price Performance

Shares of PPBI stock traded up $0.33 during trading hours on Friday, hitting $23.89. 1,008,375 shares of the company's stock were exchanged, compared to its average volume of 546,284. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.30 billion, a P/E ratio of 14.57 and a beta of 1.26. The firm has a 50 day moving average of $24.85 and a two-hundred day moving average of $25.61. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 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%. Sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp's dividend payout ratio is presently 80.49%.

Insider Transactions at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares of the company's stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.21% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson lowered 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 analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.