New York State Teachers Retirement System Sells 1,000 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

New York State Teachers Retirement System decreased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,545 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System’s holdings in Pacific Premier Bancorp were worth $773,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Pacific Premier Bancorp in the first quarter worth $32,000. Quarry LP bought a new stake in Pacific Premier Bancorp during the first quarter valued at $28,000. Belpointe Asset Management LLC boosted its position in Pacific Premier Bancorp by 279.2% during the first quarter. Belpointe Asset Management LLC now owns 1,365 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 1,005 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Pacific Premier Bancorp by 29.9% during the first quarter. Advisors Asset Management Inc. now owns 2,201 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 507 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Pacific Premier Bancorp by 69.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,094 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 1,270 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Insider Buying and Selling

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the acquisition, the director now directly owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.21% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Trading Up 0.3 %

PPBI opened at $21.31 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. Pacific Premier Bancorp, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $30.13. The firm has a market capitalization of $2.04 billion, a PE ratio of 71.03 and a beta of 1.21. The company’s 50-day moving average is $23.16 and its 200 day moving average is $24.05.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Monday, January 29th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The company had revenue of ($17.00) million for the quarter, compared to analyst estimates of $169.50 million. During the same quarter in the prior year, the business posted $0.77 EPS. As a group, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.96 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Investors of record on Friday, February 9th were issued a $0.33 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.19%. Pacific Premier Bancorp’s dividend payout ratio is presently 440.00%.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research report on Wednesday, March 20th. TheStreet cut shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Stephens reaffirmed an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Wedbush cut 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. Finally, Raymond James reiterated an “outperform” rating and set a $29.00 price objective (up previously from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp currently has an average rating of “Hold” and an average target price of $28.60.

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.