Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock Position Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,130 shares of the financial services provider’s stock after selling 1,208 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Pacific Premier Bancorp were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in PPBI. Point72 Asset Management L.P. bought a new position in Pacific Premier Bancorp during the 3rd quarter valued at $60,000. Smartleaf Asset Management LLC lifted its holdings in shares of Pacific Premier Bancorp by 158.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider’s stock valued at $75,000 after buying an additional 1,853 shares during the period. KBC Group NV boosted its stake 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 valued at $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 during the fourth quarter worth about $158,000. Finally, FMR LLC raised its position in Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 723 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 note on Friday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus target price of $27.00.

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock opened at $21.75 on Friday. The firm has a market cap of $2.10 billion, a P/E ratio of 13.26 and a beta of 1.25. The firm’s 50-day simple moving average is $24.10 and its 200-day simple moving average is $25.32. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28. 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 (NASDAQ:PPBI) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, beating 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%. As a group, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.07%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.

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.