Phocas Financial Corp. Trims Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Phocas Financial Corp. cut its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 85.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,970 shares of the financial services provider’s stock after selling 237,473 shares during the quarter. Phocas Financial Corp.’s holdings in Pacific Premier Bancorp were worth $1,046,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Creative Planning bought a new position in shares of Pacific Premier Bancorp in the third quarter worth approximately $427,000. Nisa Investment Advisors LLC raised its holdings in Pacific Premier Bancorp by 336.0% during the third quarter. Nisa Investment Advisors LLC now owns 19,294 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 14,869 shares during the period. Rosenthal Henry Capital Advisors Inc. lifted its position in shares of Pacific Premier Bancorp by 2.1% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 55,741 shares of the financial services provider’s stock valued at $1,402,000 after acquiring an additional 1,150 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Pacific Premier Bancorp in the third quarter worth about $417,000. Finally, KBC Group NV grew its position in shares of Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after purchasing an additional 849 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 24th. 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.00.

Pacific Premier Bancorp Stock Up 0.8 %

NASDAQ PPBI opened at $23.81 on Wednesday. The stock has a 50 day moving average price of $24.92 and a 200-day moving average price of $25.64. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $2.30 billion, a P/E ratio of 14.52 and a beta of 1.26.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. As a group, equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 80.49%.

Insider Activity

In related news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.21% of the company’s stock.

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.