Kestra Investment Management LLC Buys Shares of 8,843 Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Kestra Investment Management LLC purchased a new position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 8,843 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also made changes to their positions in PPBI. CIBC Asset Management Inc lifted its position in Pacific Premier Bancorp by 5.3% in the fourth quarter. CIBC Asset Management Inc now owns 9,658 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 487 shares during the period. Principal Financial Group Inc. raised its stake in shares of Pacific Premier Bancorp by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 467,665 shares of the financial services provider’s stock worth $11,654,000 after buying an additional 13,168 shares in the last quarter. Rhumbline Advisers boosted its stake in Pacific Premier Bancorp by 2.1% during the fourth quarter. Rhumbline Advisers now owns 314,694 shares of the financial services provider’s stock valued at $7,842,000 after buying an additional 6,323 shares in the last quarter. Summit Trail Advisors LLC bought a new position in Pacific Premier Bancorp during the fourth quarter valued at about $383,000. Finally, Golden State Wealth Management LLC acquired a new position in Pacific Premier Bancorp during the fourth quarter worth about $158,000. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI opened at $25.02 on Thursday. 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, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28. The company has a market cap of $2.41 billion, a PE ratio of 15.26 and a beta of 1.26. The stock’s 50-day moving average price is $25.16 and its two-hundred day moving average price is $25.63.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating 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%. On average, analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a $0.33 dividend. The ex-dividend date was Monday, February 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.28%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.

Analyst Ratings Changes

A number of brokerages have weighed in on PPBI. Wedbush cut their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th. DA Davidson cut their target price on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and an average target price of $27.00.

Insider Activity

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp 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 transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. The trade was a 11.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.21% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp 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.