Millennium Management LLC Has $17.13 Million Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Millennium Management LLC grew its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 50.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 687,180 shares of the financial services provider's stock after acquiring an additional 229,821 shares during the period. Millennium Management LLC owned about 0.71% of Pacific Premier Bancorp worth $17,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its position in shares of 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 valued at $75,000 after acquiring an additional 1,853 shares during the last quarter. Sterling Capital Management LLC lifted its position in shares of 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 valued at $75,000 after acquiring an additional 2,655 shares during the last quarter. KBC Group NV lifted its position in shares of 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 valued at $123,000 after acquiring an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at $158,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at $220,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the transaction, the chief operating officer now directly owns 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.29% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Stock Up 2.4%

Shares of PPBI traded up $0.50 during mid-day trading on Tuesday, reaching $21.55. The company's stock had a trading volume of 787,722 shares, compared to its average volume of 649,246. The business has a fifty day moving average of $20.73 and a 200 day moving average of $23.73. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 13.14 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a 1 year low of $18.06 and a 1 year high of $30.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. As a group, 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 business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 86.84%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PPBI shares. Wall Street Zen started coverage on Pacific Premier Bancorp in a report on Thursday, May 22nd. They issued a "sell" rating for the company. DA Davidson lowered Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. One 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. According to data from MarketBeat.com, the company 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.