Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock Position Lifted by Quest Partners LLC

Quest Partners LLC lifted its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3,197.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,390 shares of the financial services provider’s stock after purchasing an additional 93,467 shares during the quarter. Quest Partners LLC owned about 0.10% of Pacific Premier Bancorp worth $2,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPBI. Truist Financial Corp boosted its stake in Pacific Premier Bancorp by 5.8% during the 4th quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock valued at $985,000 after purchasing an additional 1,842 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pacific Premier Bancorp by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,103,654 shares of the financial services provider’s stock valued at $32,127,000 after buying an additional 63,384 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Pacific Premier Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock worth $147,527,000 after acquiring an additional 131,448 shares during the period. Ieq Capital LLC raised its position in Pacific Premier Bancorp by 13.1% in the fourth quarter. Ieq Capital LLC now owns 316,522 shares of the financial services provider’s stock worth $9,214,000 after acquiring an additional 36,608 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Pacific Premier Bancorp by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after acquiring an additional 207,901 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Trading Down 3.0 %

Pacific Premier Bancorp stock opened at $23.86 on Monday. Pacific Premier Bancorp, Inc. has a 52 week low of $17.86 and a 52 week high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 183.55 and a beta of 1.23. The company has a 50 day moving average price of $25.05 and a 200 day moving average price of $23.38.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. Research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were issued a $0.33 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.53%. Pacific Premier Bancorp’s dividend payout ratio is 1,015.46%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PPBI. Raymond James lifted their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stephens upped their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Finally, Wedbush lifted their target price on Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.50.

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.