Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,302,865 shares of the financial services provider's stock after selling 85,421 shares during the period. Victory Capital Management Inc. owned about 1.36% of Pacific Premier Bancorp worth $37,926,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Schroder Investment Management Group purchased a new stake in shares of Pacific Premier Bancorp in the 3rd quarter worth $6,264,000. Ieq Capital LLC bought a new position in Pacific Premier Bancorp in the 3rd quarter worth $6,091,000. Massachusetts Financial Services Co. MA boosted its holdings in Pacific Premier Bancorp by 13.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,278,555 shares of the financial services provider's stock worth $49,581,000 after buying an additional 269,119 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Pacific Premier Bancorp by 82.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 484,910 shares of the financial services provider's stock worth $14,116,000 after buying an additional 219,313 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Pacific Premier Bancorp by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider's stock worth $90,387,000 after buying an additional 198,874 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Trading Down 0.8 %

Pacific Premier Bancorp stock traded down $0.18 during midday trading on Tuesday, reaching $22.97. The stock had a trading volume of 599,736 shares, compared to its average volume of 545,125. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp, Inc. has a 52-week low of $17.53 and a 52-week high of $30.13. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 178.09 and a beta of 1.21. The company has a fifty day moving average of $22.71 and a 200 day moving average of $24.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. The firm had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. During the same quarter in the previous year, the firm posted $0.66 earnings per share. On average, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.79 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.75%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp's dividend payout ratio is presently 1,015.46%.

Insider Activity 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 that occurred on Thursday, March 21st. The shares were bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the acquisition, the director now directly owns 14,507 shares in the company, valued at approximately $347,007.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a "market perform" rating for the company in a report on Thursday, April 25th. TheStreet downgraded shares of Pacific Premier Bancorp from a "b-" rating to a "c+" rating in a report on Monday, January 29th. DA Davidson dropped their price objective on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, April 25th. StockNews.com upgraded shares of Pacific Premier Bancorp to a "sell" rating in a research report on Tuesday, April 23rd. Finally, Wedbush restated a "neutral" rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.33.

Pacific Premier Bancorp Company 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.