Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock Holdings Decreased by US Bancorp DE

US Bancorp DE lessened its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,906 shares of the financial services provider’s stock after selling 563 shares during the period. US Bancorp DE’s holdings in Pacific Premier Bancorp were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PPBI. Point72 Asset Management L.P. acquired a new position in Pacific Premier Bancorp during the 3rd quarter valued at about $60,000. KBC Group NV boosted its holdings in Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after buying an additional 849 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Pacific Premier Bancorp in the 4th quarter worth approximately $158,000. FMR LLC boosted its stake in Pacific Premier Bancorp by 11.9% in the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 723 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in Pacific Premier Bancorp in the 4th quarter worth approximately $220,000. Institutional investors own 93.11% of the company’s stock.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the business’s 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson cut their target price on shares of 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.00.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $21.61 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.08 billion, a PE ratio of 13.18 and a beta of 1.25. The firm’s fifty day simple moving average is $24.40 and its 200 day simple moving average is $25.47. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.32 annualized dividend and a dividend yield of 6.11%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 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.