Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. trimmed its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 31.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,705 shares of the financial services provider’s stock after selling 11,335 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Pacific Premier Bancorp were worth $719,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC increased its position in shares of Pacific Premier Bancorp by 4.1% during the second quarter. FMR LLC now owns 7,449 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 296 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Pacific Premier Bancorp by 4.6% during the second quarter. Captrust Financial Advisors now owns 7,666 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 335 shares during the last quarter. First Republic Investment Management Inc. increased its position in shares of Pacific Premier Bancorp by 3.9% during the first quarter. First Republic Investment Management Inc. now owns 10,192 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 380 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Pacific Premier Bancorp by 6.7% during the second quarter. Ameritas Investment Partners Inc. now owns 7,842 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 490 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Pacific Premier Bancorp by 29.9% during 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 last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPBI has been the topic of a number of analyst reports. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Wedbush dropped their target price on Pacific Premier Bancorp from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a report on Wednesday, March 20th. Raymond James reissued an “outperform” rating and issued a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Finally, Stephens reissued an “equal weight” rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $28.60.

Insider Activity

In related news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction dated Thursday, March 21st. The stock was bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the acquisition, the director now owns 14,507 shares of the company’s stock, valued at $347,007.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Stock Down 2.0 %

Shares of Pacific Premier Bancorp stock opened at $21.27 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.04 billion, a P/E ratio of 70.90 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $30.13. The business has a 50-day moving average price of $23.27 and a 200 day moving average price of $24.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Monday, January 29th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The company had revenue of ($17.00) million during the quarter, compared to analyst estimates of $169.50 million. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. During the same period in the prior year, the company earned $0.77 earnings per share. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.96 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 16th. Stockholders of record on Friday, February 9th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.21%. The ex-dividend date was Thursday, February 8th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 440.00%.

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.