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

Massachusetts Financial Services Co. MA reduced its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 about 2.87% of Pacific Premier Bancorp worth $59,331,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PPBI. GAMMA Investing LLC increased its holdings in Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 741 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 acquiring an additional 2,655 shares during the period. KBC Group NV increased its holdings in shares of Pacific Premier Bancorp by 11.0% in the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after buying an additional 546 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Pacific Premier Bancorp by 171.7% in the 4th quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock worth $162,000 after buying an additional 4,120 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of Pacific Premier Bancorp during the 4th quarter valued at $200,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp Stock Up 2.1%

Shares of PPBI opened at $22.11 on Friday. Pacific Premier Bancorp Inc has a 1 year low of $18.06 and a 1 year high of $30.28. The company's 50-day simple moving average is $21.62 and its 200-day simple moving average is $22.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $2.15 billion, a PE ratio of 14.55 and a beta of 1.16.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. Pacific Premier Bancorp had a net margin of 16.89% and a return on equity of 5.01%. The business had revenue of $144.83 million for the quarter, compared to analyst estimates of $143.25 million. During the same period last year, the firm posted $0.49 earnings per share. Analysts forecast that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is 86.84%.

Wall Street Analyst Weigh In

PPBI has been the topic of several research reports. DA Davidson lowered shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating for the company. 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.com, Pacific Premier Bancorp currently has a consensus rating of "Hold" and a consensus target price of $27.25.

Insider Activity

In related news, COO Edward Earl Wilcox sold 14,500 shares of the company's 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 sale, the chief operating officer directly owned 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Company 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.

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