Victory Capital Management Inc. Trims Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Victory Capital Management Inc. decreased its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,302,865 shares of the financial services provider’s stock after selling 85,421 shares during the period. Victory Capital Management Inc.’s holdings in Pacific Premier Bancorp were worth $37,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Pacific Premier Bancorp in the fourth quarter worth approximately $42,000. Bfsg LLC purchased a new stake in Pacific Premier Bancorp in the 4th quarter valued at about $93,000. Versor Investments LP acquired a new position in Pacific Premier Bancorp in the third quarter valued at about $200,000. Bailard Inc. purchased a new position in Pacific Premier Bancorp during the fourth quarter worth about $207,000. Finally, Vest Financial LLC acquired a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at about $237,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the transaction, the director now owns 14,507 shares of the company’s stock, valued at $347,007.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.21% of the stock is owned by company insiders.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $23.15 on Tuesday. The stock has a 50-day simple moving average of $22.71 and a 200-day simple moving average of $24.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. Pacific Premier Bancorp, Inc. has a 1 year low of $17.53 and a 1 year high of $30.13. The stock has a market capitalization of $2.23 billion, a PE ratio of 178.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The company had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. During the same quarter in the previous year, the business posted $0.66 EPS. On average, analysts predict that Pacific Premier Bancorp, Inc. will post 1.79 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PPBI shares. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods dropped their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Raymond James reissued an “outperform” rating and set a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. Piper Sandler cut their price target on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Finally, DA Davidson lowered their price objective on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.33.

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.