LPL Financial LLC Purchases 1,194 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

LPL Financial LLC boosted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 5.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,850 shares of the financial services provider’s stock after purchasing an additional 1,194 shares during the quarter. LPL Financial LLC’s holdings in Pacific Premier Bancorp were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Pacific Premier Bancorp by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock valued at $3,787,000 after buying an additional 8,145 shares during the period. Bank of New York Mellon Corp raised its position in shares of Pacific Premier Bancorp by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider’s stock valued at $28,128,000 after acquiring an additional 14,310 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at $784,000. Proficio Capital Partners LLC bought a new position in shares of Pacific Premier Bancorp in the 4th quarter worth $1,009,000. Finally, Principal Financial Group Inc. grew its stake in shares of Pacific Premier Bancorp by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 467,665 shares of the financial services provider’s stock worth $11,654,000 after purchasing an additional 13,168 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock opened at $21.24 on Friday. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 12.95 and a beta of 1.16. Pacific Premier Bancorp, Inc. has a 12-month low of $18.06 and a 12-month high of $30.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $21.42 and a 200-day moving average of $24.48.

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

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, May 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their price objective on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.00.

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.