Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 31.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,398 shares of the financial services provider’s stock after selling 4,376 shares during the period. Cresset Asset Management LLC’s holdings in Pacific Premier Bancorp were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sterling Capital Management LLC increased its stake in shares of Pacific Premier Bancorp by 729.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 2,655 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Pacific Premier Bancorp by 158.4% during the fourth 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 in the last quarter. KBC Group NV raised its holdings in shares of Pacific Premier Bancorp by 34.7% in the fourth quarter. KBC Group NV now owns 4,955 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $158,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at $220,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analysts Set New Price Targets

PPBI has been the subject of a number of recent research reports. StockNews.com started coverage on Pacific Premier Bancorp in a research report on Wednesday. They set a “sell” rating for the company. 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 issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and an average target price of $27.25.

Insider Transactions at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 14,500 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the sale, the chief operating officer now directly owns 140,283 shares in the company, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.29% of the company’s stock.

Pacific Premier Bancorp Trading Down 0.8%

Shares of Pacific Premier Bancorp stock opened at $22.27 on Friday. Pacific Premier Bancorp, Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $30.28. The business’s fifty day moving average is $20.80 and its two-hundred day moving average is $23.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.16 billion, a PE ratio of 13.58 and a beta of 1.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. The firm had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. During the same period in the prior year, the firm posted $0.49 earnings per share. Analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 86.84%.

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.