Price T Rowe Associates Inc. MD Sells 48,400 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Price T Rowe Associates Inc. MD lowered its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,097 shares of the financial services provider's stock after selling 48,400 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.09% of Pacific Premier Bancorp worth $2,246,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc raised its stake in Pacific Premier Bancorp by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 9,658 shares of the financial services provider's stock valued at $241,000 after purchasing an additional 487 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Pacific Premier Bancorp by 4.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider's stock valued at $379,000 after buying an additional 591 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Pacific Premier Bancorp by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,025 shares of the financial services provider's stock worth $250,000 after acquiring an additional 643 shares during the last quarter. HighTower Advisors LLC grew its position in Pacific Premier Bancorp by 4.2% in the fourth quarter. HighTower Advisors LLC now owns 19,371 shares of the financial services provider's stock worth $483,000 after acquiring an additional 772 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Pacific Premier Bancorp by 5.5% in the fourth quarter. LPL Financial LLC now owns 22,850 shares of the financial services provider's stock valued at $569,000 after acquiring an additional 1,194 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Up 5.6%

Shares of PPBI stock traded up $1.20 during mid-day trading on Monday, hitting $22.54. The company's stock had a trading volume of 90,634 shares, compared to its average volume of 634,112. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 13.75 and a beta of 1.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current 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 has a 50-day moving average price of $20.73 and a 200 day moving average price of $24.07.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. The company had revenue of $144.83 million for 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 quarter last year, the company posted $0.49 earnings per share. Research analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, May 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.86%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 14,500 shares of the 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 completion of the transaction, the chief operating officer now owns 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This trade represents a 9.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.29% of the company's stock.

Analyst Ratings Changes

PPBI has been the subject of a number of recent research reports. DA Davidson lowered shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. StockNews.com initiated coverage on shares of Pacific Premier Bancorp in a research report on Tuesday, May 6th. They set a "sell" rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.25.

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.