PNC Financial Services Group Inc. Reduces Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

PNC Financial Services Group Inc. decreased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,130 shares of the financial services provider’s stock after selling 1,208 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pacific Premier Bancorp were worth $377,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC grew its holdings in Pacific Premier Bancorp by 1.0% in the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock valued at $1,124,000 after purchasing an additional 449 shares during the last quarter. CIBC Asset Management Inc grew its stake in Pacific Premier Bancorp by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 9,658 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 487 shares during the last quarter. FMR LLC increased its holdings in Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares in the last quarter. HighTower Advisors LLC raised its position in Pacific Premier Bancorp by 4.4% during the third quarter. HighTower Advisors LLC now owns 18,599 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 789 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 849 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson lowered their target price on 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 analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.00.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $21.75 on Friday. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 13.26 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28. The company’s 50 day simple moving average is $24.10 and its 200 day simple moving average is $25.32.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results 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%. On average, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 80.49%.

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.