8,967 Shares in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,967 shares of the financial services provider’s stock, valued at approximately $223,000.

A number of other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Pacific Premier Bancorp by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock worth $3,787,000 after purchasing an additional 8,145 shares in the last quarter. Bank of New York Mellon Corp raised 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 valued at $28,128,000 after purchasing an additional 14,310 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at about $784,000. Azora Capital LP acquired a new position in shares of Pacific Premier Bancorp during the third quarter worth about $12,187,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth approximately $1,009,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Price Performance

PPBI stock opened at $21.87 on Thursday. The business has a 50 day moving average price of $23.96 and a 200 day moving average price of $25.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 13.34 and a beta of 1.25. 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 issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.04%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is 80.49%.

Analysts Set New Price Targets

Separately, DA Davidson decreased their price target 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 given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.