Snyder Capital Management L P Lowers Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Snyder Capital Management L P trimmed its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 546,647 shares of the financial services provider's stock after selling 25,192 shares during the period. Snyder Capital Management L P owned 0.57% of Pacific Premier Bancorp worth $13,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Pacific Premier Bancorp by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider's stock valued at $3,787,000 after buying an additional 8,145 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Pacific Premier Bancorp by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider's stock valued at $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 in the third quarter valued at about $784,000. Proficio Capital Partners LLC acquired a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at about $1,009,000. Finally, Renaissance Technologies LLC raised its position in shares of Pacific Premier Bancorp by 33.1% in the fourth quarter. Renaissance Technologies LLC now owns 175,538 shares of the financial services provider's stock valued at $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.

Pacific Premier Bancorp Trading Down 1.9 %

Shares of PPBI traded down $0.40 during mid-day trading on Wednesday, reaching $20.23. The stock had a trading volume of 186,748 shares, compared to its average volume of 622,945. 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, Inc. has a 52-week low of $18.06 and a 52-week high of $30.28. The business's fifty day moving average is $21.15 and its 200 day moving average is $24.38. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 12.34 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. The firm had revenue of $144.83 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.49 earnings per share. On average, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, May 5th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend is Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 86.84%.

Analysts Set New Price Targets

Separately, DA Davidson lowered shares of 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 issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $27.25.

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.