Deutsche Bank AG Trims Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Deutsche Bank AG lessened its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 31.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,531 shares of the financial services provider's stock after selling 41,415 shares during the period. Deutsche Bank AG owned approximately 0.09% of Pacific Premier Bancorp worth $2,231,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of Pacific Premier Bancorp by 1.3% during the 4th 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 during the period. Proficio Capital Partners LLC purchased a new stake in Pacific Premier Bancorp during the fourth quarter valued at about $1,009,000. Renaissance Technologies LLC boosted its position in 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 worth $4,374,000 after purchasing an additional 43,610 shares during the period. Barclays PLC increased its stake in shares of Pacific Premier Bancorp by 71.4% in the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider's stock worth $5,123,000 after purchasing an additional 84,859 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Pacific Premier Bancorp by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 467,665 shares of the financial services provider's stock worth $11,654,000 after purchasing an additional 13,168 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Edward Earl Wilcox sold 14,500 shares of the business's 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 completion of the transaction, the chief operating officer now owns 140,283 shares of the company's stock, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PPBI has been the topic of a number of recent research reports. Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating on the stock. DA Davidson cut shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $27.25.

Pacific Premier Bancorp Price Performance

Shares of PPBI traded down $0.18 during midday trading on Wednesday, hitting $21.37. 46,442 shares of the company traded hands, compared to its average volume of 646,936. Pacific Premier Bancorp, Inc. has a one year low of $18.06 and a one year high of $30.28. The firm has a market cap of $2.07 billion, a P/E ratio of 13.08 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 stock has a 50-day moving average of $20.73 and a 200-day moving average of $23.73.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate 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 company had revenue of $144.83 million during the quarter, compared to analysts' expectations of $143.25 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. As a group, sell-side analysts predict 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. Stockholders of record on Monday, May 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 6.18%. Pacific Premier Bancorp's payout ratio is currently 86.84%.

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.