48,000 Shares in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 48,000 shares of the financial services provider’s stock, valued at approximately $1,397,000.

Other large investors have also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Pacific Premier Bancorp in the first quarter valued at $28,000. Lazard Asset Management LLC purchased a new stake in Pacific Premier Bancorp during the 1st quarter worth about $32,000. Belpointe Asset Management LLC raised its stake in Pacific Premier Bancorp by 279.2% in the 1st quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Pacific Premier Bancorp by 69.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,094 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Pacific Premier Bancorp by 29.9% during the 1st quarter. Advisors Asset Management Inc. now owns 2,201 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 507 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PPBI. Wedbush cut 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 research report on Tuesday, January 30th. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a report on Wednesday, March 20th. TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Finally, Raymond James reiterated an “outperform” rating and set a $29.00 target price (up from $26.00) on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Pacific Premier Bancorp presently has an average rating of “Hold” and an average target price of $28.60.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was bought at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the purchase, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.21% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Trading Up 4.5 %

PPBI stock opened at $22.27 on Monday. 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 company has a market cap of $2.13 billion, a price-to-earnings ratio of 74.23 and a beta of 1.21. The business has a fifty day simple moving average of $23.11 and a 200-day simple moving average of $24.10. Pacific Premier Bancorp, Inc. has a 52 week low of $17.53 and a 52 week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.51 EPS for the quarter, topping 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 firm posted $0.77 earnings per share. On average, equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.96 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

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