Peregrine Capital Management LLC Lowers Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Peregrine Capital Management LLC cut its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,231 shares of the financial services provider's stock after selling 63,750 shares during the quarter. Peregrine Capital Management LLC owned about 0.28% of Pacific Premier Bancorp worth $7,721,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PPBI. Quarry LP purchased a new stake in Pacific Premier Bancorp in the first quarter valued at $28,000. Lazard Asset Management LLC purchased a new stake in Pacific Premier Bancorp in the first quarter valued at $32,000. Belpointe Asset Management LLC boosted its holdings in Pacific Premier Bancorp by 279.2% in the first quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 1,005 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Pacific Premier Bancorp by 69.6% in the third quarter. Tower Research Capital LLC TRC now owns 3,094 shares of the financial services provider's stock valued at $67,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Pacific Premier Bancorp by 29.9% in the first quarter. Advisors Asset Management Inc. now owns 2,201 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 507 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PPBI. Raymond James reaffirmed an "outperform" rating and issued a $29.00 price target (up from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. TheStreet downgraded shares of Pacific Premier Bancorp from a "b-" rating to a "c+" rating in a research report on Monday, January 29th. Wedbush decreased their price objective on shares of Pacific Premier Bancorp from $31.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, January 30th. Stephens reiterated an "equal weight" rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Finally, StockNews.com upgraded shares of Pacific Premier Bancorp to a "sell" rating in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $28.60.

Pacific Premier Bancorp Price Performance

Shares of PPBI traded down $1.21 during mid-day trading on Wednesday, hitting $21.79. 749,512 shares of the company were exchanged, compared to its average volume of 533,271. Pacific Premier Bancorp, Inc. has a 1-year low of $17.53 and a 1-year high of $30.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50 day moving average of $23.52 and a 200-day moving average of $24.06. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 72.63 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.03. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The firm had revenue of ($17.00) million during the quarter, compared to the consensus estimate of $169.50 million. During the same quarter in the prior year, the firm earned $0.77 EPS. Analysts expect that Pacific Premier Bancorp, Inc. will post 1.96 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.32 annualized dividend and a dividend yield of 6.06%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 440.00%.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the business's stock in a transaction on Thursday, March 21st. The stock was bought at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the acquisition, the director now owns 14,507 shares in the company, valued at $347,007.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.31% of the stock is owned by insiders.

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.