Quantbot Technologies LP Sells 9,042 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Quantbot Technologies LP reduced its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 11.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 70,546 shares of the financial services provider’s stock after selling 9,042 shares during the period. Quantbot Technologies LP’s holdings in Pacific Premier Bancorp were worth $1,758,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Natixis Advisors LLC raised its position in shares of Pacific Premier Bancorp by 1.0% in the 3rd quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock worth $1,124,000 after acquiring an additional 449 shares in the last quarter. Intech Investment Management LLC raised its holdings in Pacific Premier Bancorp by 77.7% in the third quarter. Intech Investment Management LLC now owns 32,466 shares of the financial services provider’s stock worth $817,000 after purchasing an additional 14,196 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Pacific Premier Bancorp by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after buying an additional 321,716 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Pacific Premier Bancorp by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider’s stock worth $32,461,000 after buying an additional 52,962 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Pacific Premier Bancorp by 3.4% in the 3rd quarter. Citigroup Inc. now owns 180,708 shares of the financial services provider’s stock worth $4,547,000 after acquiring an additional 5,914 shares in the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $21.98 on Tuesday. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28. The firm’s 50-day moving average is $24.05 and its 200 day moving average is $25.27. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 13.40 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 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%. Sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is 80.49%.

Analysts Set New Price Targets

Separately, DA Davidson dropped their price objective on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.

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.