Norges Bank Invests $1.15 Million in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Norges Bank bought a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 46,325 shares of the financial services provider’s stock, valued at approximately $1,154,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Pacific Premier Bancorp by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider’s stock valued at $280,138,000 after buying an additional 78,381 shares in the last quarter. Geode Capital Management LLC increased its stake in Pacific Premier Bancorp by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock valued at $57,960,000 after acquiring an additional 25,964 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Pacific Premier Bancorp by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider’s stock valued at $33,510,000 after purchasing an additional 54,518 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Pacific Premier Bancorp by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 1,313,437 shares of the financial services provider’s stock worth $32,731,000 after purchasing an additional 30,647 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Pacific Premier Bancorp by 1.3% in the 4th 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 purchasing an additional 14,310 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson decreased their price objective on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a report 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 given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $27.00.

Pacific Premier Bancorp Stock Down 1.9 %

Shares of NASDAQ:PPBI opened at $18.35 on Friday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 11.19 and a beta of 1.16. The stock’s 50-day moving average price is $22.52 and its 200-day moving average price is $24.79. 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 12-month low of $18.06 and a 12-month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results 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%. On average, equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued 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 7.19%. Pacific Premier Bancorp’s dividend payout ratio is currently 80.49%.

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.