Bank of New York Mellon Corp Raises Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Bank of New York Mellon Corp grew its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,128,723 shares of the financial services provider’s stock after buying an additional 14,310 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.17% of Pacific Premier Bancorp worth $28,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPBI. Handelsbanken Fonder AB grew its position in shares of Pacific Premier Bancorp by 17.1% during the fourth quarter. Handelsbanken Fonder AB now owns 20,523 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 3,000 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth about $220,000. CIBC Asset Management Inc grew its position in shares of Pacific Premier Bancorp by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 9,658 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 487 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Pacific Premier Bancorp by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 467,665 shares of the financial services provider’s stock worth $11,654,000 after purchasing an additional 13,168 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Pacific Premier Bancorp by 2.1% during the fourth quarter. Rhumbline Advisers now owns 314,694 shares of the financial services provider’s stock worth $7,842,000 after purchasing an additional 6,323 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Activity

In other news, EVP Michael S. Karr sold 10,290 shares of the firm’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 value of $276,492.30. Following the completion of the sale, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock opened at $22.27 on Friday. The stock has a 50 day moving average of $24.61 and a 200 day moving average of $25.55. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28. The firm has a market cap of $2.15 billion, a PE ratio of 13.58 and a beta of 1.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

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

Pacific Premier Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, DA Davidson cut their target price 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 issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus price target 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.