Linden Thomas Advisory Services LLC Lowers Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Linden Thomas Advisory Services LLC trimmed its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,487 shares of the financial services provider’s stock after selling 596 shares during the period. Linden Thomas Advisory Services LLC owned about 0.05% of Pacific Premier Bancorp worth $1,499,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Schroder Investment Management Group purchased a new position in Pacific Premier Bancorp during the 3rd quarter valued at about $6,264,000. Ieq Capital LLC purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $6,091,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Pacific Premier Bancorp by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,278,555 shares of the financial services provider’s stock valued at $49,581,000 after buying an additional 269,119 shares during the period. Assenagon Asset Management S.A. grew its stake in Pacific Premier Bancorp by 82.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 484,910 shares of the financial services provider’s stock worth $14,116,000 after acquiring an additional 219,313 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Pacific Premier Bancorp by 5.0% during the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock worth $90,387,000 after purchasing an additional 198,874 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Raymond James reiterated an “outperform” rating and set a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Wedbush reduced their price target on shares of Pacific Premier Bancorp from $31.00 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 30th. Stephens reissued an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Finally, StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.60.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was acquired at an average cost of $23.92 per share, with a total value of $28,704.00. Following the acquisition, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.21% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Stock Up 0.7 %

Shares of PPBI traded up $0.15 during midday trading on Wednesday, hitting $22.75. The company had a trading volume of 203,793 shares, compared to its average volume of 525,142. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 75.33 and a beta of 1.21. The company’s 50 day moving average price is $23.04 and its 200 day moving average price is $24.11. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32. Pacific Premier Bancorp, Inc. has a 52 week low of $17.53 and a 52 week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. The firm had revenue of ($17.00) million during the quarter, compared to analyst estimates of $169.50 million. During the same period in the previous year, the company earned $0.77 earnings per share. On average, equities research analysts predict that Pacific Premier Bancorp, Inc. will post 1.96 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend was Thursday, February 8th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 440.00%.

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.