Bank of America Corp DE Lowers Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Bank of America Corp DE reduced its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 706,265 shares of the financial services provider’s stock after selling 94,650 shares during the quarter. Bank of America Corp DE’s holdings in Pacific Premier Bancorp were worth $17,600,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Pacific Premier Bancorp by 0.7% in 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 purchasing an additional 78,381 shares during the period. Massachusetts Financial Services Co. MA grew its position in Pacific Premier Bancorp by 2.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider’s stock worth $70,847,000 after buying an additional 74,644 shares in the last quarter. Invesco Ltd. increased its stake in Pacific Premier Bancorp by 12.1% in the 4th quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock worth $55,990,000 after acquiring an additional 241,881 shares during the last quarter. Alliancebernstein L.P. increased its stake in Pacific Premier Bancorp by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider’s stock worth $36,567,000 after acquiring an additional 7,465 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Pacific Premier Bancorp by 4.2% in the 4th 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 acquiring an additional 54,518 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Trading Down 0.3%

NASDAQ PPBI opened at $22.11 on Wednesday. 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 stock’s 50-day simple moving average is $20.82 and its two-hundred day simple moving average is $23.93. Pacific Premier Bancorp, Inc. has a twelve month low of $18.06 and a twelve month high of $30.28. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.48 and a beta of 1.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $144.83 million for the quarter, compared to analysts’ expectations of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. During the same period last year, the firm posted $0.49 EPS. Research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.97%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 86.84%.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the transaction, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PPBI shares. StockNews.com initiated coverage on Pacific Premier Bancorp in a report on Wednesday, May 14th. They set a “sell” rating for the company. DA Davidson cut shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus target price of $27.25.

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.