Vanguard Group Inc. Increases Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Vanguard Group Inc. grew its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 0.6% during the fourth quarter, HoldingsChannel reports. The firm owned 11,316,980 shares of the financial services provider’s stock after buying an additional 65,694 shares during the period. Vanguard Group Inc. owned 0.12% of Pacific Premier Bancorp worth $329,437,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Pacific Premier Bancorp in the fourth quarter valued at approximately $42,000. Bfsg LLC acquired a new position in Pacific Premier Bancorp in the 4th quarter worth $93,000. Bailard Inc. acquired a new position in Pacific Premier Bancorp in the 4th quarter worth $207,000. FineMark National Bank & Trust purchased a new position in Pacific Premier Bancorp in the 4th quarter valued at about $234,000. Finally, Vest Financial LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth about $237,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total value of $110,118.12. Following the sale, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at $737,399.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.21% of the company’s stock.

Analyst Ratings Changes

PPBI has been the subject of a number of analyst reports. Wedbush reissued a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Wednesday, May 22nd. DA Davidson decreased their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Piper Sandler cut their price target on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a report on Friday, May 17th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.33.

Pacific Premier Bancorp Trading Up 2.7 %

Pacific Premier Bancorp stock opened at $22.97 on Friday. Pacific Premier Bancorp, Inc. has a 1 year low of $17.86 and a 1 year high of $30.13. The firm’s 50-day moving average is $22.14 and its 200-day moving average is $24.17. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $2.21 billion, a P/E ratio of 176.71 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 for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The firm had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. During the same quarter in the prior year, the business earned $0.66 earnings per share. On average, equities analysts expect that Pacific Premier Bancorp, Inc. will post 1.78 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, May 6th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.46%.

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.