Tower Research Capital LLC TRC Reduces Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Tower Research Capital LLC TRC lowered its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 92.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,344 shares of the financial services provider’s stock after selling 15,356 shares during the period. Tower Research Capital LLC TRC’s holdings in Pacific Premier Bancorp were worth $33,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC increased its position in Pacific Premier Bancorp by 71.4% during the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock worth $5,123,000 after buying an additional 84,859 shares during the period. Franklin Resources Inc. acquired a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at $784,000. JPMorgan Chase & Co. raised its position in Pacific Premier Bancorp by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock valued at $3,787,000 after purchasing an additional 8,145 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Pacific Premier Bancorp by 16.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider’s stock valued at $18,740,000 after purchasing an additional 107,544 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Pacific Premier Bancorp by 487.9% during the 4th quarter. SG Americas Securities LLC now owns 29,714 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 24,660 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PPBI has been the topic of a number of recent research reports. DA Davidson lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 24th. StockNews.com initiated coverage on Pacific Premier Bancorp in a research note on Wednesday. They set a “sell” rating for the company. 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 stock. According to MarketBeat, Pacific Premier Bancorp has a consensus rating of “Hold” and an average price target of $27.25.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the transaction, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.29% of the company’s stock.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $22.48 on Thursday. The stock has a market capitalization of $2.18 billion, a P/E ratio of 13.71 and a beta of 1.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. Pacific Premier Bancorp, Inc. has a 1 year low of $18.06 and a 1 year high of $30.28. The company’s fifty day moving average is $20.75 and its two-hundred day moving average is $24.04.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.07. The business had revenue of $144.83 million for the quarter, compared to analyst estimates of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same period in the previous year, the business posted $0.49 earnings per share. On average, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.87%. Pacific Premier Bancorp’s dividend payout ratio is currently 86.84%.

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.