Cerity Partners LLC Sells 5,195 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Cerity Partners LLC lessened its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 34.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,751 shares of the financial services provider’s stock after selling 5,195 shares during the period. Cerity Partners LLC’s holdings in Pacific Premier Bancorp were worth $245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in shares of Pacific Premier Bancorp by 19.7% in the fourth quarter. Wells Fargo & Company MN now owns 101,874 shares of the financial services provider’s stock valued at $2,539,000 after buying an additional 16,780 shares during the last quarter. ExodusPoint Capital Management LP lifted its holdings in Pacific Premier Bancorp by 105.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 365,261 shares of the financial services provider’s stock valued at $9,102,000 after purchasing an additional 187,228 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Pacific Premier Bancorp by 2.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider’s stock worth $70,847,000 after purchasing an additional 74,644 shares during the period. Trexquant Investment LP acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter valued at $641,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Pacific Premier Bancorp by 0.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider’s stock worth $36,567,000 after buying an additional 7,465 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI opened at $21.24 on Friday. Pacific Premier Bancorp, Inc. has a 12-month low of $18.06 and a 12-month high of $30.28. The company’s 50 day moving average price is $21.42 and its two-hundred day moving average price is $24.48. The firm has a market cap of $2.06 billion, a PE ratio of 12.95 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $144.83 million for the quarter, compared to the consensus estimate of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. Equities research analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.21%. The ex-dividend date is Monday, May 5th. Pacific Premier Bancorp’s payout ratio is currently 80.49%.

Analyst Upgrades and Downgrades

Separately, DA Davidson cut their price objective on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp has a consensus rating of “Hold” and a consensus target price of $27.00.

About Pacific Premier Bancorp

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.