PNC Financial Services Group Inc. Sells 1,534 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

PNC Financial Services Group Inc. reduced its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBIFree Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,855 shares of the financial services provider’s stock after selling 1,534 shares during the period. PNC Financial Services Group Inc.’s holdings in Pacific Premier Bancorp were worth $607,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Pacific Premier Bancorp by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after acquiring an additional 65,694 shares during the last quarter. Wellington Management Group LLP increased its holdings in Pacific Premier Bancorp by 16.3% in the 4th quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock valued at $9,321,000 after acquiring an additional 44,919 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Pacific Premier Bancorp by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock valued at $43,002,000 after acquiring an additional 86,564 shares during the last quarter. First Trust Advisors LP increased its holdings in Pacific Premier Bancorp by 17.9% in the 4th quarter. First Trust Advisors LP now owns 1,046,396 shares of the financial services provider’s stock valued at $30,461,000 after acquiring an additional 158,996 shares during the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in Pacific Premier Bancorp by 62.3% in the 4th quarter. Rafferty Asset Management LLC now owns 115,734 shares of the financial services provider’s stock valued at $3,369,000 after acquiring an additional 44,437 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James restated an “outperform” rating and issued a $25.00 target price (down from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. DA Davidson reduced their target price on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods reduced their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Piper Sandler reduced 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. Finally, Wedbush restated a “neutral” rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.33.

Check Out Our Latest Analysis on PPBI

Pacific Premier Bancorp Price Performance

PPBI stock opened at $21.59 on Thursday. Pacific Premier Bancorp, Inc. has a 12 month low of $17.86 and a 12 month high of $30.13. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average price of $22.11 and a 200 day moving average price of $24.21. The stock has a market cap of $2.08 billion, a PE ratio of 166.09 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBIGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same period in the previous year, the company earned $0.66 EPS. Equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.78 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were given a $0.33 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 6.11%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.46%.

Insider Buying and Selling 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 shares were sold at an average price of $23.59, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through this link. 2.21% of the stock is owned by corporate insiders.

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.

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

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