Hsbc Holdings PLC Grows Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Hsbc Holdings PLC grew its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 211.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,370 shares of the financial services provider's stock after acquiring an additional 31,490 shares during the period. Hsbc Holdings PLC's holdings in Pacific Premier Bancorp were worth $1,155,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PPBI. Barclays PLC boosted its stake in Pacific Premier Bancorp by 71.4% in the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider's stock worth $5,123,000 after purchasing an additional 84,859 shares during the period. Franklin Resources Inc. purchased a new position in Pacific Premier Bancorp during the third quarter valued at approximately $784,000. JPMorgan Chase & Co. increased its holdings in 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 acquiring an additional 8,145 shares during the period. Assenagon Asset Management S.A. lifted its stake in Pacific Premier Bancorp by 16.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider's stock worth $18,740,000 after purchasing an additional 107,544 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Pacific Premier Bancorp by 487.9% in the 4th quarter. SG Americas Securities LLC now owns 29,714 shares of the financial services provider's stock valued at $740,000 after purchasing an additional 24,660 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPBI. StockNews.com began coverage on shares of Pacific Premier Bancorp in a report on Tuesday. They issued a "sell" rating on the stock. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. One equities 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 stock. According to data from MarketBeat, Pacific Premier Bancorp has an average rating of "Hold" and a consensus price target of $27.25.

Insider Buying and Selling

In other news, COO Edward Earl Wilcox sold 14,500 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the transaction, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. This trade represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.29% of the stock is owned by corporate insiders.

Pacific Premier Bancorp Price Performance

PPBI stock traded up $0.05 during mid-day trading on Wednesday, hitting $20.74. 1,070,126 shares of the stock were exchanged, compared to its average volume of 633,019. The business has a fifty day moving average price of $20.86 and a 200 day moving average price of $24.18. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.64 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. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85.

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

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.37%. The ex-dividend date is Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio is presently 86.84%.

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.