Charles Schwab Investment Management Inc. Raises Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Charles Schwab Investment Management Inc. lifted its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,344,690 shares of the financial services provider’s stock after buying an additional 54,518 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.39% of Pacific Premier Bancorp worth $33,510,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPBI. Smartleaf Asset Management LLC raised its stake in shares of Pacific Premier Bancorp by 158.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,853 shares during the period. Fisher Asset Management LLC grew its holdings in Pacific Premier Bancorp by 58.9% during the 4th quarter. Fisher Asset Management LLC now owns 537,000 shares of the financial services provider’s stock valued at $13,382,000 after purchasing an additional 199,000 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Pacific Premier Bancorp during the 4th quarter worth $1,009,000. Bank of New York Mellon Corp lifted its holdings in Pacific Premier Bancorp by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider’s stock worth $28,128,000 after buying an additional 14,310 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Pacific Premier Bancorp by 17.1% in the 4th quarter. Handelsbanken Fonder AB now owns 20,523 shares of the financial services provider’s stock valued at $511,000 after buying an additional 3,000 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock opened at $22.36 on Monday. The firm has a fifty day moving average of $24.29 and a two-hundred day moving average of $25.41. The firm has a market cap of $2.16 billion, a P/E ratio of 13.63 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 quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping 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%. As a group, research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio is currently 80.49%.

Insider Buying and Selling

In other news, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction dated Tuesday, December 17th. The shares were 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 of the company’s stock, valued at approximately $2,135,466.38. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their target price on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research 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 company’s stock. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus target price of $27.00.

Pacific Premier Bancorp 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.