Brandywine Global Investment Management LLC Sells 3,200 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Brandywine Global Investment Management LLC cut its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,205 shares of the financial services provider’s stock after selling 3,200 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.07% of Pacific Premier Bancorp worth $1,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Pacific Premier Bancorp by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock worth $3,787,000 after buying an additional 8,145 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Pacific Premier Bancorp by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider’s stock worth $28,128,000 after acquiring an additional 14,310 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $784,000. Proficio Capital Partners LLC bought a new stake in Pacific Premier Bancorp during the 4th quarter valued at approximately $1,009,000. Finally, Barclays PLC lifted its holdings in Pacific Premier Bancorp by 71.4% in the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock worth $5,123,000 after purchasing an additional 84,859 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Pacific Premier Bancorp Trading Up 0.6 %

PPBI stock opened at $21.70 on Thursday. The firm has a fifty day moving average price of $23.67 and a 200 day moving average price of $25.16. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The firm has a market cap of $2.09 billion, a PE ratio of 13.23 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85.

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

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 6.08%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 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.