Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Purchased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,874 shares of the financial services provider's stock after buying an additional 16,780 shares during the quarter. Wells Fargo & Company MN owned approximately 0.11% of Pacific Premier Bancorp worth $2,539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP grew its position in shares of Pacific Premier Bancorp by 105.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 365,261 shares of the financial services provider's stock valued at $9,102,000 after acquiring an additional 187,228 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Pacific Premier Bancorp by 2.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider's stock valued at $70,847,000 after purchasing an additional 74,644 shares during the period. Trexquant Investment LP purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at approximately $641,000. Alliancebernstein L.P. raised its stake in shares of Pacific Premier Bancorp by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider's stock worth $36,567,000 after buying an additional 7,465 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Pacific Premier Bancorp by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 596,654 shares of the financial services provider's stock valued at $14,869,000 after buying an additional 10,321 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI traded down $0.06 during midday trading on Monday, hitting $20.54. The company's stock had a trading volume of 976,058 shares, compared to its average volume of 623,191. Pacific Premier Bancorp, Inc. has a 12-month low of $18.06 and a 12-month high of $30.28. The company has a market cap of $1.99 billion, a P/E ratio of 12.52 and a beta of 1.16. 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 business's 50 day simple moving average is $21.32 and its 200 day simple moving average is $24.45.

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

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, May 5th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 6.43%. Pacific Premier Bancorp's payout ratio is 86.84%.

Analyst Upgrades and Downgrades

Separately, DA Davidson cut shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $27.00.

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.