New York State Teachers Retirement System Lowers Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

New York State Teachers Retirement System reduced its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,545 shares of the financial services provider’s stock after selling 1,000 shares during the period. New York State Teachers Retirement System’s holdings in Pacific Premier Bancorp were worth $773,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in Pacific Premier Bancorp by 5.0% in the third quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after buying an additional 198,874 shares during the last quarter. EJF Capital LLC purchased a new position in Pacific Premier Bancorp in the third quarter worth about $1,632,000. Natixis Advisors L.P. raised its holdings in Pacific Premier Bancorp by 26.5% in the third quarter. Natixis Advisors L.P. now owns 44,958 shares of the financial services provider’s stock worth $978,000 after buying an additional 9,406 shares during the last quarter. Invesco Ltd. raised its holdings in Pacific Premier Bancorp by 1.8% in the third quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider’s stock worth $30,299,000 after buying an additional 24,230 shares during the last quarter. Finally, Versor Investments LP purchased a new position in Pacific Premier Bancorp in the third quarter worth about $200,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Barbara Polsky purchased 1,200 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares in the company, valued at approximately $347,007.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ PPBI opened at $21.31 on Friday. The firm has a 50 day moving average of $23.16 and a 200 day moving average of $24.05. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 71.03 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 12-month low of $17.53 and a 12-month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Monday, January 29th. The financial services provider reported $0.51 earnings per share (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 net margin of 24.75% and a return on equity of 7.50%. During the same period in the previous year, the business posted $0.77 earnings per share. On average, research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.96 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, February 9th were given a $0.33 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.19%. Pacific Premier Bancorp’s payout ratio is currently 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.