Goldman Sachs Group Inc. Grows Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Goldman Sachs Group Inc. grew its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,477,208 shares of the financial services provider’s stock after purchasing an additional 86,564 shares during the quarter. Goldman Sachs Group Inc. owned about 1.54% of Pacific Premier Bancorp worth $43,002,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PPBI. Norges Bank purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at $34,788,000. Schroder Investment Management Group purchased a new stake in shares of Pacific Premier Bancorp during the third quarter valued at $6,264,000. Eagle Asset Management Inc. grew its holdings in shares of Pacific Premier Bancorp by 1,724.3% during the fourth quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock valued at $8,517,000 after buying an additional 276,538 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Pacific Premier Bancorp by 82.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 484,910 shares of the financial services provider’s stock valued at $14,116,000 after buying an additional 219,313 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of 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 buying an additional 207,901 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pacific Premier Bancorp

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

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $21.15 on Friday. Pacific Premier Bancorp, Inc. has a twelve month low of $17.86 and a twelve month high of $30.13. The firm’s fifty day simple moving average is $22.13 and its 200-day simple moving average is $24.33. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 162.69 and a beta of 1.24. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. During the same period last year, the business earned $0.66 EPS. Equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, May 6th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.24%. The ex-dividend date of this dividend was Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.38%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PPBI. Wedbush restated a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Wednesday, May 22nd. DA Davidson decreased their target price 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 decreased their target price on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Finally, Raymond James restated an “outperform” rating and set a $25.00 target price (down from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.33.

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.