Teacher Retirement System of Texas Purchases Shares of 14,099 Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Teacher Retirement System of Texas purchased a new stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,099 shares of the financial services provider’s stock, valued at approximately $301,000.

A number of other large investors have also made changes to their positions in PPBI. KBC Group NV lifted its position in shares of Pacific Premier Bancorp by 11.0% during the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider’s stock valued at $117,000 after buying an additional 546 shares in the last quarter. CWC Advisors LLC. lifted its stake in Pacific Premier Bancorp by 31.7% in the 1st quarter. CWC Advisors LLC. now owns 12,058 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 2,905 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Pacific Premier Bancorp by 3.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 53,830 shares of the financial services provider’s stock valued at $1,148,000 after purchasing an additional 1,614 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 12,644 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 6,322 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at about $352,000. 93.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Pacific Premier Bancorp 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 value of $294,060.00. Following the transaction, the chief operating officer owned 140,283 shares of the company’s stock, valued at $2,844,939.24. This represents a 9.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on PPBI. Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 22nd. They set a “sell” rating for the company. DA Davidson cut 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 MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.25.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $22.10 on Friday. The stock’s fifty day moving average is $21.63 and its two-hundred day moving average is $22.29. The company has a market capitalization of $2.14 billion, a PE ratio of 14.54 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 Inc has a 52 week low of $18.06 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. The company 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 5.01% and a net margin of 16.89%. During the same quarter in the prior year, the company posted $0.49 EPS. As a group, analysts expect that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.97%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 86.84%.

Pacific Premier Bancorp 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.