Vanguard Group Inc. Grows Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Vanguard Group Inc. increased its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,241,494 shares of the financial services provider's stock after buying an additional 78,381 shares during the quarter. Vanguard Group Inc. owned about 11.66% of Pacific Premier Bancorp worth $280,138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Pacific Premier Bancorp in the fourth quarter worth about $8,720,000. Fisher Asset Management LLC lifted its stake in shares of Pacific Premier Bancorp by 58.9% during the 4th quarter. Fisher Asset Management LLC now owns 537,000 shares of the financial services provider's stock worth $13,382,000 after acquiring an additional 199,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Pacific Premier Bancorp by 16.7% during the 4th 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 during the last quarter. Barclays PLC lifted its stake in shares of Pacific Premier Bancorp by 71.4% during the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider's stock worth $5,123,000 after acquiring an additional 84,859 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Pacific Premier Bancorp by 85.4% during the 3rd quarter. Jane Street Group LLC now owns 151,020 shares of the financial services provider's stock valued at $3,800,000 after acquiring an additional 69,546 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Separately, DA Davidson decreased their price objective on shares of 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 equities 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. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $27.00.

Pacific Premier Bancorp Stock Up 5.4 %

Pacific Premier Bancorp stock traded up $1.02 during midday trading on Wednesday, hitting $20.02. 1,171,344 shares of the company's stock were exchanged, compared to its average volume of 586,027. Pacific Premier Bancorp, Inc. has a 12 month low of $18.22 and a 12 month 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. The company has a market cap of $1.93 billion, a PE ratio of 12.21 and a beta of 1.16. The firm has a 50-day moving average of $22.81 and a two-hundred day moving average of $24.88.

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, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. As a group, analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp's payout ratio is 80.49%.

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.