Algert Global LLC Acquires 52,735 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Algert Global LLC grew its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 287,351 shares of the financial services provider's stock after acquiring an additional 52,735 shares during the period. Algert Global LLC owned about 0.30% of Pacific Premier Bancorp worth $7,161,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Pacific Premier Bancorp by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider's stock valued at $3,787,000 after buying an additional 8,145 shares during the period. Bank of New York Mellon Corp boosted its holdings in Pacific Premier Bancorp by 1.3% in the fourth 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 acquiring an additional 14,310 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Pacific Premier Bancorp during the third quarter valued at $784,000. Proficio Capital Partners LLC purchased a new stake in Pacific Premier Bancorp during the 4th quarter valued at about $1,009,000. Finally, Renaissance Technologies LLC raised its holdings in Pacific Premier Bancorp by 33.1% in the fourth 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 owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ PPBI traded up $0.01 during trading on Friday, hitting $21.34. The company had a trading volume of 682,453 shares, compared to its average volume of 634,685. The stock has a 50 day simple moving average of $20.76 and a 200 day simple moving average of $24.12. The firm has a market capitalization of $2.07 billion, a P/E ratio of 13.01 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a 12 month low of $18.06 and a 12 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 - Get Free Report) 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 analysts' consensus estimates of $0.30 by $0.07. The business had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. During the same quarter in the prior year, the business posted $0.49 EPS. As a group, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, May 5th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a yield of 6.19%. Pacific Premier Bancorp's dividend payout ratio is currently 86.84%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com initiated coverage on Pacific Premier Bancorp in a research report on Tuesday. They issued a "sell" rating for the company. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $27.25.

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 transaction, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.29% of the company's stock.

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.