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 13F filing with the SEC. The fund owned 287,351 shares of the financial services provider's stock after purchasing an additional 52,735 shares during the quarter. Algert Global LLC owned about 0.30% of Pacific Premier Bancorp worth $7,161,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PPBI. JPMorgan Chase & Co. boosted its position in shares of 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 valued at $3,787,000 after purchasing an additional 8,145 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Pacific Premier Bancorp by 1.3% during 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. acquired a new stake in shares of Pacific Premier Bancorp in the 3rd quarter valued at about $784,000. Proficio Capital Partners LLC acquired a new stake in Pacific Premier Bancorp in the 4th quarter valued at $1,009,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Pacific Premier Bancorp by 33.1% during the fourth quarter. Renaissance Technologies LLC now owns 175,538 shares of the financial services provider's stock valued at $4,374,000 after buying an additional 43,610 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI traded up $0.01 during midday trading on Friday, reaching $21.34. 682,453 shares of the company traded hands, compared to its average volume of 636,200. The firm's fifty day moving average price is $20.73 and its two-hundred day moving average price is $24.08. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 13.01 and a beta of 1.18. 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 12 month low of $18.06 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. The company had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same period last year, the business earned $0.49 earnings per share. On average, equities analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend is Monday, May 5th. Pacific Premier Bancorp's payout ratio is 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.29% of the company's stock.

Analyst Upgrades and Downgrades

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

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.