Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 11.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 50,850 shares of the financial services provider’s stock after selling 6,312 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Pacific Premier Bancorp were worth $1,480,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vest Financial LLC purchased a new stake in Pacific Premier Bancorp during the 4th quarter valued at about $237,000. SteelPeak Wealth LLC acquired a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at approximately $262,000. Versor Investments LP acquired a new stake in shares of Pacific Premier Bancorp in the third quarter valued at approximately $200,000. AlphaMark Advisors LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth approximately $327,000. Finally, Fox Run Management L.L.C. acquired a new position in Pacific Premier Bancorp during the third quarter worth $292,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PPBI. Keefe, Bruyette & Woods reduced their price target on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday. DA Davidson dropped their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday. Raymond James restated an “outperform” rating and set a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday. Finally, Stephens reiterated an “equal weight” rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has a consensus rating of “Hold” and a consensus target price of $27.17.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $21.98 on Friday. Pacific Premier Bancorp, Inc. has a fifty-two week low of $17.53 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. The company has a 50 day moving average price of $22.96 and a 200 day moving average price of $24.08. The stock has a market capitalization of $2.11 billion, a P/E ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. The business had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. During the same period last year, the business posted $0.66 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.89 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.46%.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, March 21st. The shares were acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now owns 14,507 shares of the company’s stock, valued at $347,007.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.21% of the stock is currently owned by corporate insiders.

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.