State of Alaska Department of Revenue grew its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,812 shares of the financial services provider's stock after acquiring an additional 5,970 shares during the period. State of Alaska Department of Revenue owned about 0.08% of Pacific Premier Bancorp worth $2,099,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Pacific Premier Bancorp by 1.3% during the first quarter. BlackRock Inc. now owns 13,907,212 shares of the financial services provider's stock valued at $491,621,000 after acquiring an additional 174,646 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Pacific Premier Bancorp by 3.5% during the first quarter. Vanguard Group Inc. now owns 10,993,185 shares of the financial services provider's stock valued at $388,609,000 after acquiring an additional 366,905 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Pacific Premier Bancorp by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,100,097 shares of the financial services provider's stock valued at $180,292,000 after acquiring an additional 60,891 shares during the last quarter. State Street Corp raised its stake in shares of Pacific Premier Bancorp by 10.5% during the first quarter. State Street Corp now owns 4,744,931 shares of the financial services provider's stock valued at $167,733,000 after acquiring an additional 452,218 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Pacific Premier Bancorp by 11.9% during the first quarter. American Century Companies Inc. now owns 2,794,597 shares of the financial services provider's stock valued at $98,789,000 after acquiring an additional 296,913 shares during the last quarter. 92.81% of the stock is owned by institutional investors.
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Analysts Set New Price Targets
Several brokerages have recently commented on PPBI. StockNews.com raised shares of Pacific Premier Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday, May 31st. Piper Sandler decreased their price target on shares of Pacific Premier Bancorp to $41.00 in a research note on Monday, July 4th. Finally, Raymond James raised shares of Pacific Premier Bancorp from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $41.00 to $35.00 in a research note on Thursday, July 7th.
Pacific Premier Bancorp Price Performance
PPBI stock opened at $32.26 on Friday. Pacific Premier Bancorp, Inc. has a 1 year low of $27.92 and a 1 year high of $45.24. The company has a market cap of $3.06 billion, a P/E ratio of 9.87 and a beta of 1.23. The firm has a 50-day moving average of $33.20 and a 200 day moving average of $32.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.87 and a quick ratio of 0.87.
Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last released 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 company had revenue of $195.00 million during the quarter, compared to the consensus estimate of $193.39 million. Pacific Premier Bancorp had a net margin of 38.46% and a return on equity of 11.07%. Pacific Premier Bancorp's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 earnings per share. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 2.98 EPS for the current year.
Pacific Premier Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Monday, August 1st were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, July 29th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 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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