Bank of New York Mellon Corp decreased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,294,531 shares of the financial services provider's stock after selling 8,019 shares during the quarter. Bank of New York Mellon Corp's holdings in Pacific Premier Bancorp were worth $45,761,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of Pacific Premier Bancorp by 7.9% during the 4th quarter. Invesco Ltd. now owns 1,774,493 shares of the financial services provider's stock valued at $71,033,000 after acquiring an additional 129,650 shares during the last quarter. Geode Capital Management LLC lifted its position in Pacific Premier Bancorp by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 1,680,975 shares of the financial services provider's stock valued at $67,289,000 after buying an additional 74,592 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Pacific Premier Bancorp by 6.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,621,438 shares of the financial services provider's stock valued at $64,906,000 after buying an additional 101,718 shares during the last quarter. Brown Advisory Inc. lifted its position in Pacific Premier Bancorp by 13.4% in the first quarter. Brown Advisory Inc. now owns 1,553,608 shares of the financial services provider's stock valued at $55,147,000 after buying an additional 183,323 shares during the last quarter. Finally, Geneva Capital Management LLC lifted its position in Pacific Premier Bancorp by 0.4% in the first quarter. Geneva Capital Management LLC now owns 1,163,462 shares of the financial services provider's stock valued at $41,128,000 after buying an additional 4,796 shares during the last quarter. Institutional investors and hedge funds own 92.81% of the company's stock.
Get Pacific Premier Bancorp alerts:Pacific Premier Bancorp Stock Down 0.8 %
Shares of PPBI opened at $32.12 on Tuesday. The stock has a market capitalization of $3.05 billion, a PE ratio of 9.82 and a beta of 1.23. Pacific Premier Bancorp, Inc. has a 1 year low of $27.92 and a 1 year high of $45.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.87 and a current ratio of 0.87. The company's 50-day simple moving average is $32.35 and its 200-day simple moving average is $33.41.
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 the consensus estimate of $0.72 by $0.01. The business had revenue of $195.00 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. Analysts forecast that Pacific Premier Bancorp, Inc. will post 2.98 earnings per share for the current fiscal year.Pacific Premier Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, July 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.11%. Pacific Premier Bancorp's payout ratio is 40.37%.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Raymond James raised shares of Pacific Premier Bancorp from an "outperform" rating to a "strong-buy" rating and decreased their target price for the company from $41.00 to $35.00 in a research report on Thursday, July 7th. Piper Sandler decreased their target price on shares of Pacific Premier Bancorp to $41.00 in a research report on Monday, July 4th. Finally, StockNews.com raised shares of Pacific Premier Bancorp from a "sell" rating to a "hold" rating in a research report on Tuesday, May 31st.
Pacific Premier Bancorp Company Profile
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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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