Deutsche Bank AG Sells 41,415 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Deutsche Bank AG cut its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 31.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,531 shares of the financial services provider’s stock after selling 41,415 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Pacific Premier Bancorp worth $2,231,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Pacific Premier Bancorp by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider’s stock worth $280,138,000 after buying an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Pacific Premier Bancorp by 2.7% in the 4th 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 in the last quarter. Invesco Ltd. lifted its stake in shares of Pacific Premier Bancorp by 12.1% in the 4th quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock valued at $55,990,000 after purchasing an additional 241,881 shares during the period. Alliancebernstein L.P. boosted its stake in Pacific Premier Bancorp by 0.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider’s stock worth $36,567,000 after acquiring an additional 7,465 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Pacific Premier Bancorp by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider’s stock worth $33,510,000 after acquiring an additional 54,518 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Down 0.2%

PPBI opened at $21.17 on Friday. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 12.91 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a fifty day moving average of $20.77 and a two-hundred day moving average of $23.88.

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. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. The firm had revenue of $144.83 million for the quarter, compared to analyst estimates of $143.25 million. During the same period in the previous year, the company posted $0.49 earnings per share. On average, research analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 annualized dividend and a yield of 6.24%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total transaction of $294,060.00. Following the sale, the chief operating officer now owns 140,283 shares of the company’s stock, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PPBI shares. Wall Street Zen initiated coverage on Pacific Premier Bancorp in a research report on Thursday. They set a “sell” rating for the company. DA Davidson lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.25.

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.