Y Intercept Hong Kong Ltd Decreases Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Y Intercept Hong Kong Ltd lowered its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 63.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,611 shares of the financial services provider's stock after selling 28,293 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Pacific Premier Bancorp were worth $414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in Pacific Premier Bancorp during the third quarter valued at approximately $60,000. KBC Group NV increased its holdings in shares of Pacific Premier Bancorp by 30.0% in the third 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 period. Golden State Wealth Management LLC bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $158,000. FMR LLC grew its position in Pacific Premier Bancorp by 11.9% during the third quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock worth $171,000 after buying an additional 723 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth about $220,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Insider Activity

In related news, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares in the company, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.21% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their price target 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 analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Pacific Premier Bancorp has an average rating of "Hold" and an average target price of $27.00.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded down $0.23 during trading hours on Thursday, reaching $22.38. 135,779 shares of the stock traded hands, compared to its average volume of 547,558. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a 50 day simple moving average of $24.77 and a two-hundred day simple moving average of $25.60. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 13.63 and a beta of 1.26.

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%. On average, analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS 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. Stockholders of record on Monday, February 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.90%. Pacific Premier Bancorp's payout ratio is 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.