Nuveen Asset Management LLC Acquires 188,530 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Nuveen Asset Management LLC raised its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 25.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 942,505 shares of the financial services provider's stock after buying an additional 188,530 shares during the quarter. Nuveen Asset Management LLC owned 0.98% of Pacific Premier Bancorp worth $23,487,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Pacific Premier Bancorp by 71.4% in the 3rd 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 during the last quarter. SG Americas Securities LLC lifted its stake in shares of Pacific Premier Bancorp by 487.9% in the fourth quarter. SG Americas Securities LLC now owns 29,714 shares of the financial services provider's stock valued at $740,000 after buying an additional 24,660 shares during the period. KBC Group NV grew its position in Pacific Premier Bancorp by 34.7% during the fourth quarter. KBC Group NV now owns 4,955 shares of the financial services provider's stock worth $123,000 after buying an additional 1,276 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Pacific Premier Bancorp during the fourth quarter worth about $158,000. Finally, Summit Trail Advisors LLC bought a new position in Pacific Premier Bancorp during the fourth quarter valued at about $383,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Pacific Premier Bancorp Trading Down 0.5%

Pacific Premier Bancorp stock traded down $0.11 during midday trading on Wednesday, hitting $21.44. 81,467 shares of the stock were exchanged, compared to its average volume of 647,021. The stock has a market capitalization of $2.08 billion, a PE ratio of 13.09 and a beta of 1.18. The company has a fifty day simple moving average of $20.73 and a two-hundred day simple moving average of $23.73. 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, Inc. has a 52 week low of $18.06 and a 52 week high of $30.28.

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 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 analyst estimates of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. During the same period in the previous year, the firm earned $0.49 EPS. Equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio is 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp 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 completion of the sale, the chief operating officer now owns 140,283 shares in the company, valued at $2,844,939.24. The trade was a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on PPBI shares. Wall Street Zen started coverage on Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued a "sell" rating for the company. DA Davidson downgraded shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. One investment 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's stock. According to MarketBeat, Pacific Premier Bancorp currently has a consensus rating of "Hold" and a consensus price target of $27.25.

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.