Massachusetts Financial Services Co. MA Boosts Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Massachusetts Financial Services Co. MA raised its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 9.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,486,456 shares of the financial services provider's stock after acquiring an additional 207,901 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 2.59% of Pacific Premier Bancorp worth $72,381,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PPBI. Ieq Capital LLC grew its holdings in shares of Pacific Premier Bancorp by 13.1% in the 4th quarter. Ieq Capital LLC now owns 316,522 shares of the financial services provider's stock valued at $9,214,000 after acquiring an additional 36,608 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Pacific Premier Bancorp by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider's stock valued at $147,527,000 after purchasing an additional 131,448 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Pacific Premier Bancorp during the 4th quarter worth approximately $409,000. Charles Schwab Investment Management Inc. raised its stake in shares of Pacific Premier Bancorp by 6.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,103,654 shares of the financial services provider's stock worth $32,127,000 after purchasing an additional 63,384 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Pacific Premier Bancorp by 5.8% in the 4th quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider's stock valued at $985,000 after buying an additional 1,842 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TheStreet downgraded shares of Pacific Premier Bancorp from a "b-" rating to a "c+" rating in a report on Monday, January 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a "market perform" rating on the stock in a research note on Thursday, April 25th. Piper Sandler cut their target price on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, April 29th. Stephens reissued an "equal weight" rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Finally, StockNews.com raised Pacific Premier Bancorp to a "sell" rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $26.33.

Pacific Premier Bancorp Stock Performance

Pacific Premier Bancorp stock traded up $0.35 during trading hours on Friday, hitting $23.82. The company had a trading volume of 417,163 shares, compared to its average volume of 536,732. The firm has a 50-day moving average of $22.73 and a 200 day moving average of $24.34. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $2.30 billion, a PE ratio of 183.24 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a one year low of $17.86 and a one year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.01. The company had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter last year, the company earned $0.66 earnings per share. On average, sell-side analysts expect that Pacific Premier Bancorp, Inc. will post 1.78 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, May 6th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date was Friday, May 3rd. Pacific Premier Bancorp's dividend payout ratio is currently 1,015.46%.

Insider Activity

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now owns 14,507 shares in the company, valued at $347,007.44. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, March 21st. The shares were acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares of the company's stock, valued at approximately $347,007.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Lori R. Wright sold 4,668 shares of Pacific Premier Bancorp stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total value of $110,118.12. Following the completion of the transaction, the chief financial officer now directly owns 31,259 shares of the company's stock, valued at $737,399.81. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by company insiders.

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.