Proficio Capital Partners LLC Invests $1.01 Million in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Proficio Capital Partners LLC bought a new position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 40,495 shares of the financial services provider’s stock, valued at approximately $1,009,000.

A number of other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in Pacific Premier Bancorp by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after buying an additional 321,716 shares during the last quarter. Geode Capital Management LLC lifted its position in Pacific Premier Bancorp by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock worth $57,960,000 after buying an additional 25,964 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pacific Premier Bancorp by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider’s stock worth $32,461,000 after buying an additional 52,962 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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 during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Pacific Premier Bancorp by 16.7% in the 4th 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 during the last quarter. Institutional investors own 93.11% of the company’s stock.

Analyst Ratings Changes

Separately, DA Davidson lowered their price objective on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Pacific Premier Bancorp currently has a consensus rating of “Hold” and an average price target of $27.00.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock opened at $22.27 on Friday. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 13.58 and a beta of 1.26. The business’s fifty day moving average is $24.66 and its 200 day moving average is $25.56. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

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 return on equity of 5.43% and a net margin of 17.54%. Research analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.93%. Pacific Premier Bancorp’s dividend payout ratio is currently 80.49%.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the sale, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.21% of the company’s stock.

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.