Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,426,845 shares of the financial services provider’s stock after selling 19,001 shares during the period. Victory Capital Management Inc. owned approximately 1.48% of Pacific Premier Bancorp worth $35,557,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PPBI. GSA Capital Partners LLP acquired a new position in Pacific Premier Bancorp during the third quarter worth about $417,000. KBC Group NV grew its holdings in Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 849 shares during the period. Natixis Advisors LLC grew its holdings in Pacific Premier Bancorp by 1.0% during the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock worth $1,124,000 after acquiring an additional 449 shares during the period. LMR Partners LLP acquired a new position in Pacific Premier Bancorp during the third quarter worth about $313,000. Finally, Phocas Financial Corp. increased its stake in Pacific Premier Bancorp by 65.8% in the 3rd quarter. Phocas Financial Corp. now owns 279,443 shares of the financial services provider’s stock worth $7,031,000 after purchasing an additional 110,885 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the sale, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.21% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One equities research 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.00.

Pacific Premier Bancorp Trading Down 0.7 %

Shares of PPBI opened at $22.27 on Monday. The business’s 50-day moving average price is $24.61 and its 200 day moving average price is $25.55. The stock has a market capitalization of $2.15 billion, a P/E ratio of 13.58 and a beta of 1.25. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced 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 return on equity of 5.43% and a net margin of 17.54%. 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. 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 5.93%. Pacific Premier Bancorp’s payout ratio is presently 80.49%.

Pacific Premier Bancorp Company Profile

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.