Wells Fargo & Company MN Grows Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Wells Fargo & Company MN lifted its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,874 shares of the financial services provider's stock after acquiring an additional 16,780 shares during the quarter. Wells Fargo & Company MN owned 0.11% of Pacific Premier Bancorp worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PPBI. Smartleaf Asset Management LLC boosted its stake in shares of Pacific Premier Bancorp by 158.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after buying an additional 1,853 shares during the last quarter. KBC Group NV grew its stake in shares of Pacific Premier Bancorp by 34.7% during the 4th quarter. KBC Group NV now owns 4,955 shares of the financial services provider's stock valued at $123,000 after purchasing an additional 1,276 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at about $158,000. Kestra Investment Management LLC bought a new position in shares of Pacific Premier Bancorp in the 4th quarter worth approximately $220,000. Finally, Cibc World Markets Corp purchased a new position in shares of Pacific Premier Bancorp in the fourth quarter worth approximately $223,000. Institutional investors own 93.11% of the company's stock.

Analysts Set New Price Targets

Separately, DA Davidson cut shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $27.25.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI traded down $0.29 on Wednesday, reaching $20.34. 697,930 shares of the stock were exchanged, compared to its average volume of 625,029. 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, Inc. has a one year low of $18.06 and a one year high of $30.28. The firm has a market capitalization of $1.97 billion, a PE ratio of 12.40 and a beta of 1.16. The company's 50-day simple moving average is $21.08 and its two-hundred day simple moving average is $24.36.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping 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 return on equity of 5.43% and a net margin of 17.54%. During the same quarter in the prior year, the company posted $0.49 earnings per share. Analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Shareholders of record on Monday, May 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.49%. The ex-dividend date is Monday, May 5th. Pacific Premier Bancorp's 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.