Fisher Asset Management LLC Raises Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Fisher Asset Management LLC raised its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 58.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 537,000 shares of the financial services provider’s stock after buying an additional 199,000 shares during the quarter. Fisher Asset Management LLC’s holdings in Pacific Premier Bancorp were worth $13,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Creative Planning purchased a new position in Pacific Premier Bancorp during the third quarter valued at approximately $427,000. Nisa Investment Advisors LLC boosted its holdings in Pacific Premier Bancorp by 336.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 19,294 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 14,869 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Pacific Premier Bancorp during the 3rd quarter valued at $417,000. KBC Group NV increased its holdings in shares of Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 849 shares during the period. Finally, Natixis Advisors LLC increased its holdings in shares of Pacific Premier Bancorp by 1.0% in the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock worth $1,124,000 after purchasing an additional 449 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson decreased 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 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.00.

Pacific Premier Bancorp Stock Down 2.1 %

PPBI opened at $23.38 on Tuesday. The stock has a market cap of $2.25 billion, a PE ratio of 14.26 and a beta of 1.26. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28. The business’s fifty day simple moving average is $24.81 and its 200 day simple moving average is $25.62.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its 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%. As a group, 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 company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 5.65%. Pacific Premier Bancorp’s dividend payout ratio is presently 80.49%.

Insider Activity at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction 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 transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.21% of the stock is owned by insiders.

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.