Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,216 shares of the financial services provider’s stock after selling 2,746 shares during the period. Illinois Municipal Retirement Fund’s holdings in Pacific Premier Bancorp were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Algert Global LLC grew its stake in Pacific Premier Bancorp by 22.0% in the 3rd quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock valued at $5,903,000 after acquiring an additional 42,357 shares during the period. JPMorgan Chase & Co. grew its stake in Pacific Premier Bancorp by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock valued at $3,787,000 after acquiring an additional 8,145 shares during the period. Franklin Resources Inc. acquired a new stake in Pacific Premier Bancorp in the 3rd quarter valued at $784,000. Azora Capital LP acquired a new stake in Pacific Premier Bancorp in the 3rd quarter valued at $12,187,000. Finally, Barclays PLC grew its stake in Pacific Premier Bancorp by 71.4% in the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after acquiring an additional 84,859 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares in the company, valued at $2,135,466.38. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Trading Up 1.4 %

Shares of PPBI stock opened at $23.89 on Friday. The stock’s fifty day moving average is $24.85 and its two-hundred day moving average is $25.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $2.30 billion, a P/E ratio of 14.57 and a beta of 1.26. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data 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 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 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were issued 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 5.53%. Pacific Premier Bancorp’s dividend payout ratio is presently 80.49%.

Wall Street Analyst Weigh In

Separately, DA Davidson dropped their price target on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One equities 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 stock. According to data from MarketBeat.com, the stock has an average 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.