Illinois Municipal Retirement Fund Sells 2,746 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Illinois Municipal Retirement Fund trimmed its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,216 shares of the financial services provider’s stock after selling 2,746 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Pacific Premier Bancorp worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPBI. Point72 Asset Management L.P. purchased a new stake in shares of Pacific Premier Bancorp during the third quarter valued at about $60,000. KBC Group NV lifted its position in shares of 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 valued at $93,000 after buying an additional 849 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at about $158,000. 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. Finally, Kestra Investment Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at about $220,000. 93.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares in the company, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.21% of the stock is owned by corporate insiders.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $23.89 on Friday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 14.57 and a beta of 1.26. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $24.85 and a 200 day moving average price of $25.62. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28.

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, beating the consensus estimate 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 expect that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a yield of 5.53%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price target on shares of 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 issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.00.

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.