Cibc World Markets Corp Makes New Investment in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Cibc World Markets Corp purchased a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,967 shares of the financial services provider’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Pacific Premier Bancorp by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock worth $3,787,000 after buying an additional 8,145 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Pacific Premier Bancorp by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider’s stock valued at $28,128,000 after acquiring an additional 14,310 shares during the last quarter. Franklin Resources Inc. purchased a new stake in shares of Pacific Premier Bancorp in the third quarter valued at about $784,000. Azora Capital LP acquired a new stake in Pacific Premier Bancorp during the third quarter worth about $12,187,000. Finally, Proficio Capital Partners LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth about $1,009,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price target on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pacific Premier Bancorp currently has an average rating of “Hold” and an average target price of $27.00.

Pacific Premier Bancorp Trading Down 0.0 %

Shares of PPBI stock opened at $21.87 on Thursday. The company has a 50-day moving average of $23.96 and a two-hundred day moving average of $25.24. The firm has a market cap of $2.11 billion, a PE ratio of 13.34 and a beta of 1.25. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. On average, analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a dividend yield of 6.04%. Pacific Premier Bancorp’s dividend payout ratio is presently 80.49%.

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.