GW&K Investment Management LLC Sells 127,304 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

GW&K Investment Management LLC decreased its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,265,805 shares of the financial services provider's stock after selling 127,304 shares during the quarter. GW&K Investment Management LLC owned approximately 1.32% of Pacific Premier Bancorp worth $36,847,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PPBI. GAMMA Investing LLC acquired a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth approximately $42,000. Bfsg LLC bought a new stake in Pacific Premier Bancorp during the 4th quarter worth approximately $93,000. Versor Investments LP acquired a new stake in Pacific Premier Bancorp during the 3rd quarter valued at $200,000. Bailard Inc. bought a new position in Pacific Premier Bancorp in the 4th quarter valued at $207,000. Finally, Vest Financial LLC acquired a new position in Pacific Premier Bancorp in the fourth quarter worth $237,000. 93.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods lowered their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a "market perform" rating for the company in a research note on Thursday, April 25th. Raymond James restated an "outperform" rating and issued a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. DA Davidson reduced their target price on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, April 25th. Wedbush reissued a "neutral" rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. Finally, Piper Sandler reduced their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $26.33.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the 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 sale, the chief financial officer now directly owns 31,259 shares in the company, valued at $737,399.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Lori R. Wright sold 4,668 shares of the firm's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the sale, the chief financial officer now owns 31,259 shares of the company's stock, valued at $737,399.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barbara Polsky acquired 1,200 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The stock was 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 in the company, valued at approximately $347,007.44. The disclosure for this purchase can be found here. Corporate insiders own 2.21% of the company's stock.

Pacific Premier Bancorp Trading Down 1.3 %

Shares of Pacific Premier Bancorp stock traded down $0.30 on Tuesday, hitting $23.30. 454,019 shares of the company's stock traded hands, compared to its average volume of 535,766. The firm's 50-day moving average price is $22.73 and its two-hundred day moving average price is $24.43. 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 stock has a market capitalization of $2.25 billion, a PE ratio of 180.17 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 released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. The business had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 13th. Investors of record on Monday, May 6th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.67%. The ex-dividend date of this dividend was Friday, May 3rd. Pacific Premier Bancorp's payout ratio is 1,015.46%.

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.