Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. trimmed its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,722,870 shares of the financial services provider's stock after selling 60,580 shares during the period. Brown Advisory Inc. owned about 1.79% of Pacific Premier Bancorp worth $42,934,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PPBI. Smartleaf Asset Management LLC increased its holdings in Pacific Premier Bancorp by 158.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock valued at $75,000 after buying an additional 1,853 shares in the last quarter. Sterling Capital Management LLC increased its stake in Pacific Premier Bancorp by 729.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 2,655 shares in the last quarter. KBC Group NV raised its holdings in Pacific Premier Bancorp by 34.7% during the fourth quarter. KBC Group NV now owns 4,955 shares of the financial services provider's stock worth $123,000 after purchasing an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Pacific Premier Bancorp during the fourth quarter worth $158,000. Finally, Kestra Investment Management LLC acquired a new stake in Pacific Premier Bancorp in the fourth quarter valued at $220,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PPBI has been the topic of several recent research reports. DA Davidson lowered shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. StockNews.com initiated coverage on shares of Pacific Premier Bancorp in a research report on Tuesday. They issued a "sell" rating on the stock. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $27.25.

Pacific Premier Bancorp Price Performance

PPBI stock traded up $0.01 during trading on Friday, hitting $21.34. The stock had a trading volume of 682,453 shares, compared to its average volume of 634,957. Pacific Premier Bancorp, Inc. has a 1-year low of $18.06 and a 1-year high of $30.28. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 13.01 and a beta of 1.18. The company's 50 day moving average price is $20.73 and its two-hundred day moving average price is $24.09. 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 posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. The business had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

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

Insider Activity

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 140,283 shares of the company's stock, valued at $2,844,939.24. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.29% of the company's stock.

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.