Geode Capital Management LLC Sells 17,161 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Geode Capital Management LLC trimmed its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,286,061 shares of the financial services provider's stock after selling 17,161 shares during the period. Geode Capital Management LLC owned about 2.37% of Pacific Premier Bancorp worth $56,982,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Pacific Premier Bancorp by 5.7% during the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider's stock valued at $3,787,000 after acquiring an additional 8,145 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Pacific Premier Bancorp by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider's stock valued at $28,128,000 after purchasing an additional 14,310 shares during the period. Franklin Resources Inc. acquired a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at about $784,000. Proficio Capital Partners LLC purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter worth approximately $1,009,000. Finally, Barclays PLC grew its position in Pacific Premier Bancorp by 71.4% during the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider's stock valued at $5,123,000 after purchasing an additional 84,859 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their target price on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating for the company in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $27.00.

Pacific Premier Bancorp Stock Up 1.2 %

NASDAQ:PPBI traded up $0.23 during trading hours on Friday, reaching $19.25. The company's stock had a trading volume of 986,065 shares, compared to its average volume of 598,263. Pacific Premier Bancorp, Inc. has a one year low of $18.06 and a one year high of $30.28. The business's 50-day moving average is $21.82 and its 200-day moving average is $24.60. 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 company has a market cap of $1.87 billion, a price-to-earnings ratio of 11.74 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. Equities research analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a $0.33 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 6.86%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 80.49%.

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.