Massachusetts Financial Services Co. MA Buys 74,644 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Massachusetts Financial Services Co. MA lifted its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,842,985 shares of the financial services provider’s stock after buying an additional 74,644 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Pacific Premier Bancorp were worth $70,847,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Pacific Premier Bancorp by 0.7% in the fourth 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 last quarter. Geode Capital Management LLC raised its holdings in Pacific Premier Bancorp by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock valued at $57,960,000 after buying an additional 25,964 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Pacific Premier Bancorp by 0.5% during 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. Charles Schwab Investment Management Inc. increased its holdings in Pacific Premier Bancorp by 4.2% in 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 during the period. Finally, William Blair Investment Management LLC raised its position in Pacific Premier Bancorp by 2.4% during the 4th 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. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

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

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI opened at $19.26 on Friday. The company has a market capitalization 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, Inc. has a twelve month low of $18.41 and a twelve month high of $30.28. The firm has a fifty day simple moving average of $23.45 and a 200 day simple moving average of $25.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is 80.49%.

About Pacific Premier Bancorp

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.