Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 215.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,436 shares of the financial services provider’s stock after purchasing an additional 24,893 shares during the period. SG Americas Securities LLC’s holdings in Pacific Premier Bancorp were worth $837,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Pacific Premier Bancorp by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after purchasing an additional 65,694 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Pacific Premier Bancorp by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after buying an additional 131,448 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Pacific Premier Bancorp by 9.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock worth $72,381,000 after acquiring an additional 207,901 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Pacific Premier Bancorp by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock worth $43,002,000 after acquiring an additional 86,564 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Pacific Premier Bancorp by 56.0% during the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 477,167 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PPBI. Raymond James increased their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Stephens boosted their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Wedbush increased their price target on shares of Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, Piper Sandler lowered their price objective on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Trading Up 2.1 %

NASDAQ PPBI opened at $25.16 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. Pacific Premier Bancorp, Inc. has a one year low of $17.86 and a one year high of $30.13. The company’s 50 day moving average price is $23.90 and its 200 day moving average price is $23.31. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 193.54 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, meeting analysts’ consensus estimates of $0.43. The business had revenue of $154.62 million during the quarter, compared to analysts’ expectations of $162.23 million. During the same period in the prior year, the business posted $0.60 EPS. The business’s revenue was down 9.5% on a year-over-year basis. On average, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.7 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Monday, August 5th. Pacific Premier Bancorp’s payout ratio is 1,015.38%.

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.