Rafferty Asset Management LLC Has $3.37 Million Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Rafferty Asset Management LLC increased its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBIFree Report) by 62.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,734 shares of the financial services provider’s stock after purchasing an additional 44,437 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.12% of Pacific Premier Bancorp worth $3,369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC bought a new position in shares of Pacific Premier Bancorp during the 4th quarter worth about $42,000. Bfsg LLC bought a new position in Pacific Premier Bancorp during the fourth quarter worth about $93,000. Bailard Inc. acquired a new stake in Pacific Premier Bancorp during the fourth quarter valued at approximately $207,000. FineMark National Bank & Trust bought a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at approximately $234,000. Finally, Vest Financial LLC acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter worth approximately $237,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Trading Down 1.8 %

Shares of NASDAQ PPBI opened at $21.13 on Friday. Pacific Premier Bancorp, Inc. has a 1-year low of $17.86 and a 1-year high of $30.13. The company has a 50-day moving average of $22.47 and a two-hundred day moving average of $24.46. The company has a market cap of $2.04 billion, a PE ratio of 162.55 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBIGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. During the same quarter last year, the business posted $0.66 earnings per share. As a group, equities analysts expect that Pacific Premier Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, May 6th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.25%. The ex-dividend date was Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the sale, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at approximately $737,399.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total value of $110,118.12. Following the transaction, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at $737,399.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Barbara Polsky bought 1,200 shares of the company’s stock in a transaction on 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 directly owns 14,507 shares in the company, valued at approximately $347,007.44. The disclosure for this purchase can be found here. 2.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on PPBI. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Piper Sandler lowered their target price on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a report on Wednesday, May 22nd. DA Davidson reduced their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Raymond James reaffirmed an “outperform” rating and set a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.33.

Check Out Our Latest Stock Report on PPBI

Pacific Premier Bancorp Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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