CIBC Asset Management Inc Acquires 487 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

CIBC Asset Management Inc grew its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,658 shares of the financial services provider’s stock after purchasing an additional 487 shares during the period. CIBC Asset Management Inc’s holdings in Pacific Premier Bancorp were worth $241,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in Pacific Premier Bancorp in the 3rd quarter worth about $60,000. KBC Group NV lifted its stake in Pacific Premier Bancorp by 30.0% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 849 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at about $158,000. FMR LLC grew its stake in shares of Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 723 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of Pacific Premier Bancorp during the third quarter valued at approximately $297,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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 on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Insider Transactions at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction 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. The trade was a 11.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ:PPBI opened at $23.81 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.30 billion, a PE ratio of 14.52 and a beta of 1.26. The firm’s 50 day moving average price is $24.92 and its 200-day moving average price is $25.64. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping 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%. Equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is 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.