Rafferty Asset Management LLC Has $2.89 Million Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Rafferty Asset Management LLC raised its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,865 shares of the financial services provider’s stock after buying an additional 4,988 shares during the period. Rafferty Asset Management LLC’s holdings in Pacific Premier Bancorp were worth $2,887,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PPBI. Raymond James Financial Inc. acquired a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $8,720,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $7,798,000. Azora Capital LP boosted its stake in shares of Pacific Premier Bancorp by 54.4% during the 4th quarter. Azora Capital LP now owns 747,779 shares of the financial services provider’s stock valued at $18,635,000 after buying an additional 263,383 shares during the period. Invesco Ltd. boosted its stake in shares of Pacific Premier Bancorp by 12.1% during the 4th quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock valued at $55,990,000 after buying an additional 241,881 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Pacific Premier Bancorp by 50.2% during the 4th quarter. Millennium Management LLC now owns 687,180 shares of the financial services provider’s stock valued at $17,125,000 after buying an additional 229,821 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. DA Davidson lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 24th. StockNews.com started coverage on shares of Pacific Premier Bancorp in a research note on Wednesday, May 14th. They issued a “sell” rating for the company. One equities research 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. Based on data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $27.25.

Pacific Premier Bancorp Stock Down 0.4%

PPBI stock opened at $22.17 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 1 year low of $18.06 and a 1 year high of $30.28. The company has a fifty day simple moving average of $20.81 and a 200 day simple moving average of $23.94. The firm has a market cap of $2.15 billion, a PE ratio of 13.52 and a beta of 1.18.

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

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio is 86.84%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the completion of the transaction, the chief operating officer now owns 140,283 shares of the company’s stock, valued at $2,844,939.24. The trade was a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.29% 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.