Peregrine Capital Management LLC boosted its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,384 shares of the financial services provider’s stock after buying an additional 3,796 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.45% of Pacific Premier Bancorp worth $5,797,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of PPBI. Versant Capital Management Inc purchased a new position in shares of Pacific Premier Bancorp in the second quarter worth $36,000. Advisor Group Holdings Inc. purchased a new stake in Pacific Premier Bancorp during the first quarter valued at $47,000. Meeder Asset Management Inc. raised its stake in Pacific Premier Bancorp by 23.0% during the first quarter. Meeder Asset Management Inc. now owns 3,975 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 742 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Pacific Premier Bancorp during the first quarter valued at $82,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in Pacific Premier Bancorp during the first quarter valued at $85,000. 89.20% of the stock is currently owned by institutional investors and hedge funds.
PPBI has been the topic of a number of analyst reports. ValuEngine upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Raymond James upgraded shares of Pacific Premier Bancorp from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, June 17th. BidaskClub cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, June 16th. Finally, Zacks Investment Research cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported ($1.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($1.44). The company had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $140.67 million. Pacific Premier Bancorp had a net margin of 1.59% and a return on equity of 4.94%. During the same period in the previous year, the business earned $0.62 earnings per share. As a group, research analysts anticipate that Pacific Premier Bancorp, Inc. will post 0.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, August 6th. Pacific Premier Bancorp’s payout ratio is currently 38.46%.
In related news, EVP Michael S. Karr sold 10,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $21.13, for a total value of $211,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.81% of the company’s stock.
Pacific Premier Bancorp Profile
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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