Buffington Mohr McNeal acquired a new position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,928 shares of the financial services provider's stock, valued at approximately $203,000.

Other hedge funds also recently made changes to their positions in the company. CWM LLC grew its holdings in shares of Pacific Premier Bancorp by 135.5% during the first quarter. CWM LLC now owns 796 shares of the financial services provider's stock worth $28,000 after purchasing an additional 458 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth about $32,000. Advisors Asset Management Inc. grew its holdings in shares of 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 worth $78,000 after purchasing an additional 507 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Pacific Premier Bancorp by 38.6% during the first quarter. Nisa Investment Advisors LLC now owns 4,850 shares of the financial services provider's stock worth $171,000 after purchasing an additional 1,350 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Pacific Premier Bancorp by 13.7% during the first quarter. Mackenzie Financial Corp now owns 5,747 shares of the financial services provider's stock worth $203,000 after purchasing an additional 694 shares during the last quarter. Hedge funds and other institutional investors own 92.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PPBI shares. Piper Sandler dropped their price objective on Pacific Premier Bancorp to $41.00 in a report on Monday, July 4th. Raymond James upgraded Pacific Premier Bancorp from an "outperform" rating to a "strong-buy" rating and dropped their price target for the company from $41.00 to $35.00 in a research report on Thursday, July 7th. Finally, StockNews.com raised Pacific Premier Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday, May 31st.

Pacific Premier Bancorp Stock Performance

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.72 by $0.01. The business had revenue of $195.00 million for the quarter, compared to analyst estimates of $193.39 million. Pacific Premier Bancorp had a net margin of 38.46% and a return on equity of 11.07%. The business's revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.01 earnings per share. On average, equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 2.98 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date was Friday, July 29th. Pacific Premier Bancorp's dividend payout ratio (DPR) is 40.37%.

About Pacific Premier Bancorp

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Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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