Ameriprise Financial Inc. Sells 35,120 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Ameriprise Financial Inc. lowered its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 884,066 shares of the financial services provider's stock after selling 35,120 shares during the quarter. Ameriprise Financial Inc. owned 0.92% of Pacific Premier Bancorp worth $22,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PPBI. Vanguard Group Inc. increased its position in Pacific Premier Bancorp by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider's stock valued at $280,138,000 after buying an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Pacific Premier Bancorp by 2.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider's stock valued at $70,847,000 after buying an additional 74,644 shares during the last quarter. Invesco Ltd. boosted its holdings in Pacific Premier Bancorp by 12.1% during the 4th quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider's stock worth $55,990,000 after acquiring an additional 241,881 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Pacific Premier Bancorp by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider's stock worth $36,567,000 after acquiring an additional 7,465 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Pacific Premier Bancorp by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider's stock valued at $33,510,000 after purchasing an additional 54,518 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Trading Down 0.0%

Pacific Premier Bancorp stock traded down $0.01 during trading hours on Tuesday, reaching $22.16. The stock had a trading volume of 61,472 shares, compared to its average volume of 641,555. Pacific Premier Bancorp, Inc. has a 52 week low of $18.06 and a 52 week high of $30.28. The stock has a market cap of $2.15 billion, a PE ratio of 13.50 and a beta of 1.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day simple moving average of $20.81 and a 200-day simple moving average of $23.94.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results 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 firm had revenue of $144.83 million for the quarter, compared to analysts' expectations 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 quarter in the previous year, the business posted $0.49 EPS. Analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.96%. Pacific Premier Bancorp's dividend payout ratio is currently 86.84%.

Insider Activity

In other 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 transaction of $294,060.00. Following the transaction, the chief operating officer now directly owns 140,283 shares of the company's stock, valued at $2,844,939.24. The trade was a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com initiated coverage on shares of Pacific Premier Bancorp in a research report on Wednesday, May 14th. They set a "sell" rating on the stock. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Pacific Premier Bancorp has an average rating of "Hold" and an average price target of $27.25.

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.