Maryland State Retirement & Pension System Sells 935 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Maryland State Retirement & Pension System trimmed its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,622 shares of the financial services provider’s stock after selling 935 shares during the period. Maryland State Retirement & Pension System’s holdings in Pacific Premier Bancorp were worth $772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Pacific Premier Bancorp by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after acquiring an additional 65,694 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Pacific Premier Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after acquiring an additional 131,448 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Pacific Premier Bancorp by 9.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after acquiring an additional 207,901 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Pacific Premier Bancorp by 6.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock valued at $43,002,000 after acquiring an additional 86,564 shares in the last quarter. Finally, William Blair Investment Management LLC grew its stake in Pacific Premier Bancorp by 56.0% during the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock valued at $31,891,000 after acquiring an additional 477,167 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI opened at $25.70 on Monday. Pacific Premier Bancorp, Inc. has a 52 week low of $17.86 and a 52 week high of $30.13. The stock has a market capitalization of $2.48 billion, a P/E ratio of 197.71 and a beta of 1.24. The firm has a fifty day simple moving average of $24.76 and a two-hundred day simple moving average of $23.37. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $162.23 million. During the same period in the prior year, the firm posted $0.60 earnings per share. Pacific Premier Bancorp’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, analysts expect that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, August 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.14%. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PPBI. Stephens raised their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Wedbush raised their target price on shares of Pacific Premier Bancorp from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Finally, Raymond James lifted their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.50.

About Pacific Premier Bancorp

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.