Raymond James & Associates Sells 12,821 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Raymond James & Associates lessened its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 24.0% in the fourth quarter, HoldingsChannel reports. The fund owned 40,690 shares of the financial services provider’s stock after selling 12,821 shares during the period. Raymond James & Associates’ holdings in Pacific Premier Bancorp were worth $1,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in shares of Pacific Premier Bancorp by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after acquiring an additional 198,874 shares during the last quarter. EJF Capital LLC bought a new position in Pacific Premier Bancorp during the 3rd quarter valued at approximately $1,632,000. Natixis Advisors L.P. raised its position in Pacific Premier Bancorp by 26.5% during the 3rd quarter. Natixis Advisors L.P. now owns 44,958 shares of the financial services provider’s stock valued at $978,000 after purchasing an additional 9,406 shares during the last quarter. Invesco Ltd. raised its position in Pacific Premier Bancorp by 1.8% during the 3rd quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider’s stock valued at $30,299,000 after purchasing an additional 24,230 shares during the last quarter. Finally, Versor Investments LP bought a new position in Pacific Premier Bancorp during the 3rd quarter valued at approximately $200,000. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Up 4.5 %

Shares of NASDAQ:PPBI opened at $22.27 on Friday. Pacific Premier Bancorp, Inc. has a 52-week low of $17.53 and a 52-week high of $30.13. The firm has a market capitalization of $2.13 billion, a P/E ratio of 74.23 and a beta of 1.21. The stock has a 50 day moving average price of $23.11 and a 200-day moving average price of $24.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of ($17.00) million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business posted $0.77 EPS. As a group, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.96 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.32 annualized dividend and a dividend yield of 5.93%. Pacific Premier Bancorp’s payout ratio is currently 440.00%.

Wall Street Analyst Weigh In

A number of research firms have commented on PPBI. Raymond James reaffirmed an “outperform” rating and set a $29.00 price target (up previously from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Stephens reaffirmed an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research report on Wednesday, March 20th. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Finally, Wedbush decreased their target price on Pacific Premier Bancorp from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.60.

Insider Buying and Selling

In related news, Director Barbara Polsky purchased 1,200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the purchase, the director now directly owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.21% of the stock is currently owned by company insiders.

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.