Credit Suisse AG grew its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Free Report) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,048 shares of the financial services provider’s stock after acquiring an additional 1,874 shares during the quarter. Credit Suisse AG owned about 0.14% of Pacific Premier Bancorp worth $3,268,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth $32,000. Advisors Asset Management Inc. increased its stake in shares of Pacific Premier Bancorp by 29.9% in the 1st quarter. Advisors Asset Management Inc. now owns 2,201 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 507 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Pacific Premier Bancorp in the 2nd quarter worth $152,000. Mackenzie Financial Corp increased its stake in shares of Pacific Premier Bancorp by 13.7% in the 1st quarter. Mackenzie Financial Corp now owns 5,747 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 694 shares during the last quarter. Finally, FMR LLC increased its position in shares of Pacific Premier Bancorp by 4.1% during the 2nd quarter. FMR LLC now owns 7,449 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 296 shares during the last quarter. 92.02% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on PPBI shares. TheStreet downgraded Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Thursday, May 11th. Stephens raised their price objective on Pacific Premier Bancorp from $23.00 to $26.00 in a research report on Monday, July 31st. Piper Sandler raised their price objective on Pacific Premier Bancorp from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. StockNews.com raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Wedbush raised their price objective on Pacific Premier Bancorp from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $28.40.
Pacific Premier Bancorp Stock Up 3.2 %
Shares of NASDAQ:PPBI opened at $23.76 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $2.28 billion, a PE ratio of 8.44 and a beta of 1.25. The firm’s 50-day moving average is $23.04 and its two-hundred day moving average is $23.61. Pacific Premier Bancorp, Inc. has a 1 year low of $17.53 and a 1 year high of $37.50.
Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $245.93 million for the quarter, compared to analyst estimates of $180.58 million. Pacific Premier Bancorp had a net margin of 28.25% and a return on equity of 9.53%. During the same period in the prior year, the firm earned $0.73 earnings per share. Analysts predict that Pacific Premier Bancorp, Inc. will post 2.35 EPS for the current year.
Pacific Premier Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend was Friday, August 4th. Pacific Premier Bancorp’s dividend payout ratio is presently 47.14%.
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 to businesses, professionals, real estate investors, and non-profit organizations in the United States. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
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