Alliancebernstein L.P. Buys 7,465 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Alliancebernstein L.P. grew its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,467,366 shares of the financial services provider’s stock after acquiring an additional 7,465 shares during the period. Alliancebernstein L.P.’s holdings in Pacific Premier Bancorp were worth $36,567,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PPBI. JPMorgan Chase & Co. raised its position in Pacific Premier Bancorp by 5.7% in the third 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. Bank of New York Mellon Corp raised its holdings in 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 valued at $28,128,000 after buying an additional 14,310 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Pacific Premier Bancorp during the 3rd quarter worth approximately $784,000. Proficio Capital Partners LLC bought a new stake in Pacific Premier Bancorp during the 4th quarter worth approximately $1,009,000. Finally, Barclays PLC raised its stake in shares of Pacific Premier Bancorp by 71.4% during the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after acquiring an additional 84,859 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analysts Set New Price Targets

Separately, DA Davidson reduced 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 assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Pacific Premier Bancorp Trading Down 2.5 %

PPBI opened at $19.26 on Friday. Pacific Premier Bancorp, Inc. has a twelve month low of $18.41 and a twelve month high of $30.28. The company has a fifty day moving average of $23.45 and a 200-day moving average of $25.09. The stock has a market cap of $1.86 billion, a PE ratio of 11.74 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

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

Pacific Premier Bancorp Announces Dividend

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. The ex-dividend date was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 6.85%. Pacific Premier Bancorp’s payout ratio is currently 80.49%.

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.