Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System grew its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,140 shares of the financial services provider’s stock after purchasing an additional 1,200 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Pacific Premier Bancorp were worth $604,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in Pacific Premier Bancorp by 1.5% in the third quarter. BlackRock Inc. now owns 14,042,570 shares of the financial services provider’s stock valued at $434,757,000 after acquiring an additional 210,881 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Pacific Premier Bancorp by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 10,993,185 shares of the financial services provider’s stock worth $388,609,000 after acquiring an additional 366,905 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Pacific Premier Bancorp by 4.4% in the third quarter. Dimensional Fund Advisors LP now owns 5,590,507 shares of the financial services provider’s stock valued at $173,084,000 after buying an additional 235,222 shares in the last quarter. State Street Corp increased its holdings in Pacific Premier Bancorp by 10.5% during the 1st quarter. State Street Corp now owns 4,744,931 shares of the financial services provider’s stock valued at $167,733,000 after acquiring an additional 452,218 shares in the last quarter. Finally, Cardinal Capital Management LLC CT lifted its stake in Pacific Premier Bancorp by 1.6% in the 3rd quarter. Cardinal Capital Management LLC CT now owns 2,335,169 shares of the financial services provider’s stock valued at $72,297,000 after buying an additional 35,996 shares in the last quarter. Institutional investors and hedge funds own 94.22% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI opened at $19.85 on Friday. Pacific Premier Bancorp, Inc. has a 52 week low of $17.53 and a 52 week high of $37.50. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $1.90 billion, a P/E ratio of 6.77 and a beta of 1.20. The firm’s 50 day moving average is $22.33 and its two-hundred day moving average is $29.51.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last announced its earnings results on Thursday, April 27th. The financial services provider reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The company had revenue of $242.53 million for the quarter, compared to analysts’ expectations of $196.23 million. Pacific Premier Bancorp had a net margin of 30.86% and a return on equity of 10.05%. During the same period in the prior year, the company earned $0.70 earnings per share. Analysts anticipate that Pacific Premier Bancorp, Inc. will post 2.42 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Monday, May 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend was Friday, May 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 45.05%.

Analysts Set New Price Targets

PPBI has been the subject of a number of research analyst reports. StockNews.com started coverage on shares of Pacific Premier Bancorp in a report on Thursday. They set a “sell” rating on the stock. TheStreet cut shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, May 11th. Raymond James cut their target price on Pacific Premier Bancorp from $37.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 27th. Piper Sandler reduced their price objective on shares of Pacific Premier Bancorp from $33.00 to $28.00 in a research note on Monday, May 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Pacific Premier Bancorp from $33.00 to $26.00 and set a “market perform” rating for the company in a report on Thursday, April 6th.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Sherri V. Scott sold 1,600 shares of Pacific Premier Bancorp stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $18.51, for a total value of $29,616.00. Following the transaction, the executive vice president now directly owns 20,440 shares of the company’s stock, valued at approximately $378,344.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.31% of the company’s stock.

Pacific Premier Bancorp Profile

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Pacific Premier Bancorp, Inc is a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment.