Invesco Ltd. Boosts Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Invesco Ltd. increased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,246,800 shares of the financial services provider's stock after buying an additional 241,881 shares during the period. Invesco Ltd. owned 2.33% of Pacific Premier Bancorp worth $55,990,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Pacific Premier Bancorp by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider's stock worth $280,138,000 after buying an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Pacific Premier Bancorp by 2.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider's stock worth $70,847,000 after buying an additional 74,644 shares during the last quarter. Geode Capital Management LLC increased its stake in Pacific Premier Bancorp by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock valued at $57,960,000 after acquiring an additional 25,964 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Pacific Premier Bancorp by 0.5% during the 4th 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Pacific Premier Bancorp by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider's stock valued at $33,510,000 after acquiring an additional 54,518 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Pacific Premier Bancorp Trading Up 1.2 %

Shares of PPBI traded up $0.23 during mid-day trading on Friday, hitting $19.25. 986,065 shares of the company's stock traded hands, compared to its average volume of 598,263. The business's 50-day moving average price is $21.82 and its 200-day moving average price is $24.60. Pacific Premier Bancorp, Inc. has a 1 year low of $18.06 and a 1 year high of $30.28. The firm has a market capitalization of $1.87 billion, a P/E ratio of 11.74 and a beta of 1.16. 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 posted its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. As a group, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 6.86%. Pacific Premier Bancorp's payout ratio is 80.49%.

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.