Algert Global LLC Increases Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Algert Global LLC boosted its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 22.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 287,351 shares of the financial services provider’s stock after buying an additional 52,735 shares during the quarter. Algert Global LLC’s holdings in Pacific Premier Bancorp were worth $7,161,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Pacific Premier Bancorp by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock valued at $3,787,000 after purchasing an additional 8,145 shares during the last quarter. Bank of New York Mellon Corp grew 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 purchasing an additional 14,310 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Pacific Premier Bancorp in the 3rd quarter valued at about $784,000. Proficio Capital Partners LLC bought a new position in shares of Pacific Premier Bancorp during the 4th quarter worth approximately $1,009,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Pacific Premier Bancorp by 33.1% in the 4th quarter. Renaissance Technologies LLC now owns 175,538 shares of the financial services provider’s stock worth $4,374,000 after buying an additional 43,610 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson downgraded Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.25.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $21.41 on Monday. The company has a market capitalization of $2.08 billion, a PE ratio of 13.05 and a beta of 1.16. 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 52-week low of $18.06 and a 52-week high of $30.28. The company has a 50-day simple moving average of $20.97 and a 200 day simple moving average of $24.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. The company had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same quarter last year, the business posted $0.49 EPS. On average, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, May 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date is Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 86.84%.

Insider Activity

In related news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the sale, the chief operating officer now owns 140,283 shares of the company’s stock, valued at approximately $2,844,939.24. This trade represents a 9.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.29% of the company’s stock.

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.