Picton Mahoney Asset Management Buys Shares of 14,038 Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Picton Mahoney Asset Management purchased a new stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,038 shares of the financial services provider’s stock, valued at approximately $409,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Pacific Premier Bancorp during the fourth quarter valued at approximately $42,000. Bfsg LLC bought a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $93,000. Bailard Inc. bought a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $207,000. Vest Financial LLC purchased a new stake in shares of Pacific Premier Bancorp in the 4th quarter worth $237,000. Finally, SteelPeak Wealth LLC bought a new position in Pacific Premier Bancorp in the 4th quarter worth $262,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction dated Thursday, March 21st. The stock was purchased at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the acquisition, the director now owns 14,507 shares of the company’s stock, valued at $347,007.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.21% of the stock is owned by insiders.

Pacific Premier Bancorp Stock Performance

PPBI opened at $23.24 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of 178.77 and a beta of 1.21. The company has a fifty day moving average of $22.72 and a 200 day moving average of $24.17. Pacific Premier Bancorp, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. The business had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same period in the prior year, the firm earned $0.66 EPS. As a group, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.79 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.68%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PPBI. TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods decreased their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Thursday, April 25th. Piper Sandler dropped their price target on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Wedbush restated a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. Finally, StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.33.

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.