Aigen Investment Management LP Buys New Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Aigen Investment Management LP acquired a new position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,692 shares of the financial services provider’s stock, valued at approximately $316,000.

Several other hedge funds also recently made changes to their positions in PPBI. Azora Capital LP purchased a new position in shares of Pacific Premier Bancorp during the third quarter worth about $12,187,000. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 worth $69,651,000 after purchasing an additional 321,716 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Pacific Premier Bancorp by 58.9% during the fourth quarter. Fisher Asset Management LLC now owns 537,000 shares of the financial services provider’s stock worth $13,382,000 after purchasing an additional 199,000 shares during the last quarter. Phocas Financial Corp. grew its holdings in shares of Pacific Premier Bancorp by 65.8% during the third quarter. Phocas Financial Corp. now owns 279,443 shares of the financial services provider’s stock worth $7,031,000 after purchasing an additional 110,885 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Pacific Premier Bancorp by 16.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider’s stock worth $18,740,000 after purchasing an additional 107,544 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $22.27 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 13.58 and a beta of 1.25. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The firm has a 50-day simple moving average of $24.61 and a 200-day simple moving average of $25.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data 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%. On average, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a $0.33 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a yield of 5.93%. Pacific Premier Bancorp’s payout ratio is currently 80.49%.

Analysts Set New Price Targets

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

Insider Activity at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the sale, the executive vice president now owns 79,474 shares in the company, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.21% of the stock is owned by insiders.

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.