Massachusetts Financial Services Co. MA Sells 60,106 Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Massachusetts Financial Services Co. MA reduced its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,782,879 shares of the financial services provider's stock after selling 60,106 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.87% of Pacific Premier Bancorp worth $59,331,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PPBI. Vanguard Group Inc. increased its stake in Pacific Premier Bancorp by 0.7% during 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 purchasing an additional 78,381 shares in the last quarter. Invesco Ltd. raised its stake in shares of Pacific Premier Bancorp by 12.1% in the 4th 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 during the period. Alliancebernstein L.P. grew its holdings in shares of Pacific Premier Bancorp by 0.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider's stock valued at $36,567,000 after purchasing an additional 7,465 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Pacific Premier Bancorp by 25.0% during the 4th quarter. Nuveen Asset Management LLC now owns 942,505 shares of the financial services provider's stock worth $23,487,000 after acquiring an additional 188,530 shares in the last quarter. Finally, Azora Capital LP raised its position in Pacific Premier Bancorp by 54.4% in the 4th quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock valued at $18,635,000 after purchasing an additional 263,383 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Down 0.7%

Shares of NASDAQ PPBI traded down $0.15 during mid-day trading on Monday, reaching $21.95. 1,106,337 shares of the company's stock were exchanged, compared to its average volume of 718,552. The business has a fifty day simple moving average of $21.63 and a 200 day simple moving average of $22.25. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 14.44 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. The business had revenue of $144.83 million during the quarter, compared to the consensus estimate of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. During the same period in the previous year, the company posted $0.49 EPS. As a group, equities analysts expect that Pacific Premier Bancorp Inc will post 1.34 EPS 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 given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 6.01%. Pacific Premier Bancorp's payout ratio is 86.84%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. DA Davidson lowered shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $27.25.

Insiders Place Their Bets

In related news, COO Edward Earl Wilcox sold 14,500 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.29% of the company's stock.

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.