Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Holdings Boosted by Prudential Financial Inc.

Prudential Financial Inc. raised its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 18.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,663 shares of the financial services provider's stock after acquiring an additional 18,974 shares during the period. Prudential Financial Inc. owned approximately 0.13% of Pacific Premier Bancorp worth $3,007,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PPBI. Vanguard Group Inc. raised its stake in shares of Pacific Premier Bancorp by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider's stock valued at $280,138,000 after purchasing an additional 78,381 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Pacific Premier Bancorp by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock worth $57,960,000 after buying an additional 25,964 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Pacific Premier Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider's stock worth $33,510,000 after acquiring an additional 54,518 shares during the period. William Blair Investment Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 2.4% in 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 acquiring an additional 30,647 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Pacific Premier Bancorp by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider's stock valued at $28,128,000 after acquiring an additional 14,310 shares during the period. Institutional investors own 93.11% of the company's stock.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their target price on Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating for the company in a research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.00.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI traded down $0.22 during trading hours on Monday, reaching $19.04. 1,635,812 shares of the company's stock were exchanged, compared to its average volume of 580,943. 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 company has a market capitalization of $1.84 billion, a P/E ratio of 11.61 and a beta of 1.16. Pacific Premier Bancorp, Inc. has a 12 month low of $18.35 and a 12 month high of $30.28. The business's 50-day simple moving average is $23.32 and its two-hundred day simple moving average is $25.04.

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 earnings per share 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 expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders 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 6.93%. Pacific Premier Bancorp's payout ratio is presently 80.49%.

About Pacific Premier Bancorp

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.