New York State Teachers Retirement System Lowers Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

New York State Teachers Retirement System trimmed its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,545 shares of the financial services provider’s stock after selling 1,100 shares during the period. New York State Teachers Retirement System’s holdings in Pacific Premier Bancorp were worth $587,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Summit Trail Advisors LLC purchased a new position in Pacific Premier Bancorp in the fourth quarter worth $383,000. Golden State Wealth Management LLC acquired a new position in shares of Pacific Premier Bancorp during the 4th quarter worth $158,000. KBC Group NV increased its holdings in shares of Pacific Premier Bancorp by 34.7% in the 4th quarter. KBC Group NV now owns 4,955 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 1,276 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Pacific Premier Bancorp by 487.9% in the fourth quarter. SG Americas Securities LLC now owns 29,714 shares of the financial services provider’s stock valued at $740,000 after purchasing an additional 24,660 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Pacific Premier Bancorp by 16.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider’s stock worth $18,740,000 after buying an additional 107,544 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Trading Down 2.1 %

Pacific Premier Bancorp stock opened at $23.62 on Tuesday. The stock has a market cap of $2.28 billion, a PE ratio of 14.40 and a beta of 1.26. 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 price of $24.97 and a 200 day moving average price of $25.64. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28.

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

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were issued a $0.33 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 5.59%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their target price on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a report 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.00.

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.