Beacon Pointe Advisors LLC Makes New $7.80 Million Investment in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Beacon Pointe Advisors LLC purchased a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 312,937 shares of the financial services provider's stock, valued at approximately $7,798,000. Beacon Pointe Advisors LLC owned approximately 0.32% of Pacific Premier Bancorp at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new stake in Pacific Premier Bancorp during the 4th quarter valued at $8,720,000. Invesco Ltd. grew its stake in shares of Pacific Premier Bancorp by 12.1% during the fourth quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider's stock valued at $55,990,000 after acquiring an additional 241,881 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Pacific Premier Bancorp by 142.2% during the fourth quarter. JPMorgan Chase & Co. now owns 364,604 shares of the financial services provider's stock worth $9,086,000 after acquiring an additional 214,069 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Pacific Premier Bancorp by 58.9% in the fourth quarter. Fisher Asset Management LLC now owns 537,000 shares of the financial services provider's stock worth $13,382,000 after acquiring an additional 199,000 shares in the last quarter. Finally, ExodusPoint Capital Management LP lifted its stake in shares of Pacific Premier Bancorp by 105.2% in the fourth quarter. ExodusPoint Capital Management LP now owns 365,261 shares of the financial services provider's stock worth $9,102,000 after acquiring an additional 187,228 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.25.

Pacific Premier Bancorp Stock Up 3.0 %

Shares of PPBI traded up $0.62 during midday trading on Friday, hitting $21.41. The company had a trading volume of 1,207,409 shares, compared to its average volume of 628,498. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 13.05 and a beta of 1.16. The company's 50 day moving average price is $20.97 and its 200 day moving average price is $24.26. 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 52 week low of $18.06 and a 52 week high of $30.28.

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

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.17%. The ex-dividend date of this dividend is Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 86.84%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction that occurred on 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 directly owns 140,283 shares in the company, valued at $2,844,939.24. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.29% of the stock is currently owned by corporate insiders.

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.