Cwm LLC boosted its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Free Report) by 646.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,360 shares of the financial services provider’s stock after buying an additional 2,044 shares during the period. Cwm LLC’s holdings in Pacific Premier Bancorp were worth $49,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of Pacific Premier Bancorp during the first quarter valued at approximately $28,000. Lazard Asset Management LLC purchased a new stake in Pacific Premier Bancorp during the 1st quarter valued at $32,000. Belpointe Asset Management LLC lifted its holdings in shares of Pacific Premier Bancorp by 279.2% during the 1st quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider’s stock valued at $33,000 after buying an additional 1,005 shares during the period. Versant Capital Management Inc boosted its stake in shares of Pacific Premier Bancorp by 68.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,972 shares of the financial services provider’s stock worth $41,000 after buying an additional 804 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Pacific Premier Bancorp by 29.9% in the first 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 period. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PPBI has been the topic of a number of recent research reports. Stephens increased their target price on Pacific Premier Bancorp from $23.00 to $26.00 in a report on Monday, July 31st. Wedbush dropped their price objective on shares of Pacific Premier Bancorp from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Piper Sandler boosted their target price on shares of Pacific Premier Bancorp from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Monday, July 31st. StockNews.com downgraded shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Raymond James cut their price objective on shares of Pacific Premier Bancorp from $28.00 to $23.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.80.
Pacific Premier Bancorp Price Performance
Shares of NASDAQ:PPBI opened at $19.68 on Monday. The company has a market capitalization of $1.89 billion, a P/E ratio of 7.84 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 1-year low of $17.53 and a 1-year high of $37.50. The firm’s 50 day simple moving average is $21.22 and its two-hundred day simple moving average is $21.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.89 and a quick ratio of 0.89.
Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.07). The firm had revenue of $168.10 million for the quarter, compared to the consensus estimate of $174.90 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 8.47%. During the same quarter in the previous year, the business earned $0.77 earnings per share. Research analysts expect that Pacific Premier Bancorp, Inc. will post 2.19 EPS for the current fiscal year.
Pacific Premier Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 13th. Stockholders of record on Friday, November 3rd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend is Thursday, November 2nd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 52.59%.
Insider Transactions at Pacific Premier Bancorp
In related news, Director Joseph L. Garrett sold 7,500 shares of Pacific Premier Bancorp stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $18.70, for a total transaction of $140,250.00. Following the sale, the director now owns 85,426 shares of the company’s stock, valued at approximately $1,597,466.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.31% of the company’s stock.
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 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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