Profund Advisors LLC grew its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,778 shares of the financial services provider's stock after buying an additional 1,069 shares during the quarter. Profund Advisors LLC's holdings in Pacific Premier Bancorp were worth $381,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Pacific Premier Bancorp by 243.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 976 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 692 shares during the last quarter. Advisor Group Holdings Inc. boosted its stake in shares of Pacific Premier Bancorp by 2.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 20,618 shares of the financial services provider's stock valued at $825,000 after acquiring an additional 396 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Pacific Premier Bancorp by 62.1% during the fourth quarter. ProShare Advisors LLC now owns 23,441 shares of the financial services provider's stock valued at $938,000 after acquiring an additional 8,984 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Pacific Premier Bancorp by 112.2% during the fourth quarter. First Trust Advisors LP now owns 146,369 shares of the financial services provider's stock valued at $5,859,000 after acquiring an additional 77,396 shares during the last quarter. Finally, Versor Investments LP boosted its stake in shares of Pacific Premier Bancorp by 12.7% during the fourth quarter. Versor Investments LP now owns 12,299 shares of the financial services provider's stock valued at $492,000 after acquiring an additional 1,382 shares during the last quarter. Hedge funds and other institutional investors own 91.89% of the company's stock.
Get Pacific Premier Bancorp alerts:Wall Street Analyst Weigh In
A number of analysts recently commented on PPBI shares. StockNews.com raised Pacific Premier Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday, May 31st. Piper Sandler decreased their price objective on Pacific Premier Bancorp to $41.00 in a research note on Monday, July 4th. Finally, Raymond James raised 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 Stock Up 1.6 %
Shares of NASDAQ:PPBI opened at $34.50 on Friday. The stock's 50-day moving average price is $31.91 and its two-hundred day moving average price is $33.63. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.34. Pacific Premier Bancorp, Inc. has a 12-month low of $27.92 and a 12-month high of $45.24. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 10.55 and a beta of 1.24.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. Pacific Premier Bancorp had a return on equity of 11.07% and a net margin of 38.46%. The firm had revenue of $195.00 million for the quarter, compared to analyst estimates of $193.39 million. During the same period last year, the company earned $1.01 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Pacific Premier Bancorp, Inc. will post 2.98 EPS for the current year.
Pacific Premier Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Monday, August 1st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, July 29th. Pacific Premier Bancorp's dividend payout ratio is currently 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.
Further Reading
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