Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,103,654 shares of the financial services provider's stock after buying an additional 63,384 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.15% of Pacific Premier Bancorp worth $32,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPBI. Ieq Capital LLC purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $6,091,000. Assenagon Asset Management S.A. grew its position in shares of Pacific Premier Bancorp by 70.4% during the third quarter. Assenagon Asset Management S.A. now owns 265,597 shares of the financial services provider's stock worth $5,779,000 after purchasing an additional 109,743 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $200,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $1,244,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $292,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Analyst Upgrades and Downgrades

PPBI has been the subject of several research analyst reports. Raymond James reiterated an "outperform" rating and set a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. StockNews.com raised Pacific Premier Bancorp to a "sell" rating in a research note on Friday, May 17th. Wedbush reissued a "neutral" rating and set a $25.00 price target on shares of Pacific Premier Bancorp in a research note on Wednesday. Piper Sandler dropped their price target on 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. Finally, DA Davidson dropped their price target on Pacific Premier Bancorp from $32.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $26.33.

Insider Transactions at Pacific Premier Bancorp

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

Pacific Premier Bancorp Trading Down 1.1 %

Shares of NASDAQ:PPBI traded down $0.25 during trading on Wednesday, hitting $23.05. The company had a trading volume of 326,965 shares, compared to its average volume of 533,930. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 177.86 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. The company has a fifty day simple moving average of $22.73 and a two-hundred day simple moving average of $24.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million during 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 period last year, the company earned $0.66 EPS. As a group, equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.78 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Stockholders of record on Monday, May 6th were issued a $0.33 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.73%. Pacific Premier Bancorp's payout ratio is 1,015.46%.

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.