Bank of New York Mellon Corp Increases Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Bank of New York Mellon Corp grew its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,128,723 shares of the financial services provider’s stock after acquiring an additional 14,310 shares during the quarter. Bank of New York Mellon Corp’s holdings in Pacific Premier Bancorp were worth $28,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PPBI. Point72 Asset Management L.P. acquired a new stake in shares of Pacific Premier Bancorp in the 3rd quarter worth $60,000. KBC Group NV boosted its position in shares of Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 849 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Pacific Premier Bancorp in the 4th quarter worth $158,000. FMR LLC boosted its position in shares of Pacific Premier Bancorp by 11.9% in the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 723 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Pacific Premier Bancorp in the 4th quarter worth $220,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, DA Davidson lowered their price objective on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Pacific Premier Bancorp has a consensus rating of “Hold” and a consensus price target of $27.00.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $22.27 on Friday. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.58 and a beta of 1.25. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $24.61 and a 200 day moving average of $25.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. Sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 5.93%. Pacific Premier Bancorp’s payout ratio is 80.49%.

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.