Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Northern Trust Corp

Northern Trust Corp cut its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,182,507 shares of the financial services provider's stock after selling 13,875 shares during the period. Northern Trust Corp owned 1.23% of Pacific Premier Bancorp worth $29,468,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Pacific Premier Bancorp by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider's stock worth $3,787,000 after buying an additional 8,145 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pacific Premier Bancorp by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider's stock worth $28,128,000 after buying an additional 14,310 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Pacific Premier Bancorp during the 3rd quarter worth $784,000. Proficio Capital Partners LLC acquired a new stake in shares of Pacific Premier Bancorp during the 4th quarter worth $1,009,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Pacific Premier Bancorp by 33.1% during the 4th quarter. Renaissance Technologies LLC now owns 175,538 shares of the financial services provider's stock worth $4,374,000 after buying an additional 43,610 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PPBI. StockNews.com began coverage on shares of Pacific Premier Bancorp in a research report on Wednesday. They set a "sell" rating for the company. DA Davidson cut shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Pacific Premier Bancorp has an average rating of "Hold" and a consensus price target of $27.25.

Pacific Premier Bancorp Stock Up 0.3%

NASDAQ:PPBI traded up $0.06 on Thursday, reaching $22.54. The stock had a trading volume of 267,886 shares, compared to its average volume of 639,037. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $20.75 and a 200 day moving average of $24.04. The stock has a market cap of $2.19 billion, a P/E ratio of 13.74 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a 12-month low of $18.06 and a 12-month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. The company had revenue of $144.83 million during the quarter, compared to analysts' expectations of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same period in the prior year, the company posted $0.49 EPS. On average, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were given a $0.33 dividend. The ex-dividend date was Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a yield of 5.86%. Pacific Premier Bancorp's payout ratio is currently 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the sale, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.29% of the stock is currently owned by corporate 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.