Raymond James Financial Inc. Acquires New Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Raymond James Financial Inc. acquired a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 349,885 shares of the financial services provider's stock, valued at approximately $8,720,000. Raymond James Financial Inc. owned about 0.36% of Pacific Premier Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at $60,000. Smartleaf Asset Management LLC boosted its stake in Pacific Premier Bancorp by 158.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,853 shares during the period. KBC Group NV grew its position in 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. Golden State Wealth Management LLC acquired a new position in Pacific Premier Bancorp in the fourth quarter valued at $158,000. Finally, FMR LLC raised its holdings in shares of Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock valued at $171,000 after buying an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI traded down $0.10 during midday trading on Tuesday, hitting $21.88. The stock had a trading volume of 776,410 shares, compared to its average volume of 512,748. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year 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 50 day moving average price of $24.05 and a two-hundred day moving average price of $25.27. The company has a market capitalization of $2.11 billion, a PE ratio of 13.34 and a beta of 1.25.

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Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating 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, equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm 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. This represents a $1.32 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp's dividend payout ratio is presently 80.49%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lowered their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.00.

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.