ExodusPoint Capital Management LP Increases Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

ExodusPoint Capital Management LP increased its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 105.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 365,261 shares of the financial services provider’s stock after purchasing an additional 187,228 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Pacific Premier Bancorp were worth $9,102,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PPBI. FMR LLC lifted its position in shares of Pacific Premier Bancorp by 11.9% during the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after buying an additional 723 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Pacific Premier Bancorp by 0.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 274,045 shares of the financial services provider’s stock valued at $6,895,000 after acquiring an additional 1,352 shares during the last quarter. Verition Fund Management LLC boosted its stake in Pacific Premier Bancorp by 226.9% in the third quarter. Verition Fund Management LLC now owns 59,781 shares of the financial services provider’s stock valued at $1,504,000 after acquiring an additional 41,491 shares in the last quarter. Paloma Partners Management Co purchased a new position in Pacific Premier Bancorp in the third quarter worth $297,000. Finally, HighTower Advisors LLC increased its position in shares of Pacific Premier Bancorp by 4.4% during the third quarter. HighTower Advisors LLC now owns 18,599 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 789 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lowered their price objective on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and an average target price of $27.00.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $19.26 on Friday. The business has a fifty day moving average of $23.45 and a 200 day moving average of $25.09. Pacific Premier Bancorp, Inc. has a 1 year low of $18.41 and a 1 year high of $30.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 11.74 and a beta of 1.25.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. As a group, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were paid a $0.33 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.85%. Pacific Premier Bancorp’s payout ratio is currently 80.49%.

About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.