Tower Research Capital LLC TRC Reduces Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Tower Research Capital LLC TRC lessened its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 92.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,344 shares of the financial services provider's stock after selling 15,356 shares during the quarter. Tower Research Capital LLC TRC's holdings in Pacific Premier Bancorp were worth $33,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PPBI. MetLife Investment Management LLC increased its stake in Pacific Premier Bancorp by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 58,395 shares of the financial services provider's stock worth $1,455,000 after acquiring an additional 3,180 shares during the last quarter. First Trust Advisors LP increased its position in shares of Pacific Premier Bancorp by 1.9% during the 4th quarter. First Trust Advisors LP now owns 95,397 shares of the financial services provider's stock worth $2,377,000 after purchasing an additional 1,761 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Pacific Premier Bancorp during the 4th quarter worth about $2,056,000. Jump Financial LLC raised its holdings in Pacific Premier Bancorp by 15.8% in the 4th quarter. Jump Financial LLC now owns 39,400 shares of the financial services provider's stock valued at $982,000 after buying an additional 5,377 shares during the period. Finally, Barclays PLC lifted its position in Pacific Premier Bancorp by 3.9% in the fourth quarter. Barclays PLC now owns 211,620 shares of the financial services provider's stock valued at $5,273,000 after buying an additional 7,968 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PPBI shares. 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. StockNews.com assumed coverage on shares of Pacific Premier Bancorp in a research report on Wednesday. They set a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of "Hold" and a consensus target price of $27.25.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $20.28, for a total transaction of $294,060.00. Following the completion of the transaction, the chief operating officer now directly owns 140,283 shares of the company's stock, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $22.48 on Thursday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $20.75 and a 200 day moving average of $24.04. 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 announced 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 firm 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 quarter in the previous year, the business posted $0.49 earnings per share. As a group, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio is currently 86.84%.

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.

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