Wellington Management Group LLP Purchases 44,919 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Wellington Management Group LLP boosted its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 320,186 shares of the financial services provider’s stock after buying an additional 44,919 shares during the period. Wellington Management Group LLP owned approximately 0.33% of Pacific Premier Bancorp worth $9,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PPBI. American Century Companies Inc. boosted its position in shares of Pacific Premier Bancorp by 5.0% during the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after acquiring an additional 198,874 shares during the last quarter. EJF Capital LLC purchased a new position in Pacific Premier Bancorp in the 3rd quarter worth approximately $1,632,000. Hsbc Holdings PLC grew its stake in Pacific Premier Bancorp by 1,193.1% in the 4th quarter. Hsbc Holdings PLC now owns 223,429 shares of the financial services provider’s stock worth $6,558,000 after buying an additional 206,150 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of 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 worth $3,369,000 after buying an additional 44,437 shares during the last quarter. Finally, TFO Wealth Partners LLC raised its position in shares of Pacific Premier Bancorp by 172,950.0% during the 4th quarter. TFO Wealth Partners LLC now owns 24,227 shares of the financial services provider’s stock valued at $705,000 after buying an additional 24,213 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Up 3.6 %

Shares of Pacific Premier Bancorp stock opened at $22.37 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. Pacific Premier Bancorp, Inc. has a 52-week low of $17.86 and a 52-week high of $30.13. The company’s 50 day moving average price is $22.13 and its 200-day moving average price is $24.19. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 172.09 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The firm had revenue of $239.21 million for 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 quarter in the previous year, the company earned $0.66 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.78 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date was Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PPBI. Raymond James reissued an “outperform” rating and issued a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. Keefe, Bruyette & Woods dropped their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Piper Sandler cut their target price on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. DA Davidson decreased their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $25.00 price objective on shares of Pacific Premier Bancorp in a research note 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 assigned a buy rating to the company. According to MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average price target of $26.33.

Insiders Place Their Bets

In related news, CFO Lori R. Wright sold 4,668 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the transaction, the chief financial officer now owns 31,259 shares in the company, valued at $737,399.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.21% of the company’s stock.

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.