Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 33.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,538 shares of the financial services provider's stock after acquiring an additional 43,610 shares during the period. Renaissance Technologies LLC owned about 0.18% of Pacific Premier Bancorp worth $4,374,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Pacific Premier Bancorp by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider's stock worth $280,138,000 after purchasing an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Pacific Premier Bancorp by 2.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider's stock valued at $70,847,000 after purchasing an additional 74,644 shares during the period. Geode Capital Management LLC boosted its holdings in Pacific Premier Bancorp by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock worth $57,960,000 after buying an additional 25,964 shares in the last quarter. Invesco Ltd. grew its position in Pacific Premier Bancorp by 12.1% during the fourth quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider's stock valued at $55,990,000 after buying an additional 241,881 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Pacific Premier Bancorp by 0.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider's stock valued at $36,567,000 after buying an additional 7,465 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Price Performance

PPBI traded down $0.64 during midday trading on Friday, hitting $20.60. 1,401,557 shares of the company traded hands, compared to its average volume of 622,979. The business has a 50 day simple moving average of $21.32 and a two-hundred day simple moving average of $24.46. Pacific Premier Bancorp, Inc. has a 52-week low of $18.06 and a 52-week high of $30.28. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 12.56 and a beta of 1.16. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results 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. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. The firm had revenue of $144.83 million for the quarter, compared to analyst estimates of $143.25 million. On average, equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.41%. The ex-dividend date is Monday, May 5th. Pacific Premier Bancorp's payout ratio is 80.49%.

Analyst Ratings Changes

Separately, DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of "Hold" and a consensus target price of $27.00.

About Pacific Premier Bancorp

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.