Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 706,265 shares of the financial services provider's stock after selling 94,650 shares during the quarter. Bank of America Corp DE owned about 0.73% of Pacific Premier Bancorp worth $17,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in Pacific Premier Bancorp by 158.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,853 shares during the period. Sterling Capital Management LLC increased its holdings in Pacific Premier Bancorp by 729.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after purchasing an additional 2,655 shares during the period. KBC Group NV increased its holdings in Pacific Premier Bancorp by 34.7% during the 4th 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 period. Golden State Wealth Management LLC purchased a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at $158,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at $220,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Edward Earl Wilcox sold 14,500 shares of the business's stock in a transaction on 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 in the company, valued at $2,844,939.24. The trade was a 9.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.29% of the stock is owned by company insiders.

Pacific Premier Bancorp Stock Down 0.6%

Shares of NASDAQ:PPBI traded down $0.12 on Friday, reaching $21.05. The company had a trading volume of 914,361 shares, compared to its average volume of 648,211. Pacific Premier Bancorp, Inc. has a 52-week low of $18.06 and a 52-week high of $30.28. The firm's 50 day simple moving average is $20.75 and its 200-day simple moving average is $23.86. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.04 billion, a PE ratio of 12.84 and a beta of 1.18.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $143.25 million. During the same period in the previous year, the business earned $0.49 EPS. As a group, analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, May 5th. This represents a $1.32 annualized dividend and a yield of 6.27%. Pacific Premier Bancorp's dividend payout ratio (DPR) is 86.84%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PPBI. Wall Street Zen began coverage on Pacific Premier Bancorp in a report on Thursday. They issued a "sell" rating on the stock. 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 assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently 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.