Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock Holdings Boosted by Citigroup Inc.

Citigroup Inc. lifted its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) by 42.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,148 shares of the financial services provider’s stock after acquiring an additional 19,819 shares during the quarter. Citigroup Inc.’s holdings in Pacific Premier Bancorp were worth $2,088,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Pacific Premier Bancorp by 4.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 14,313 shares of the financial services provider’s stock worth $452,000 after acquiring an additional 591 shares in the last quarter. Raymond James & Associates lifted its stake in Pacific Premier Bancorp by 287.5% during the fourth quarter. Raymond James & Associates now owns 267,721 shares of the financial services provider’s stock worth $8,449,000 after purchasing an additional 198,631 shares during the period. UBS Group AG lifted its stake in Pacific Premier Bancorp by 45.0% during the fourth quarter. UBS Group AG now owns 38,704 shares of the financial services provider’s stock worth $1,221,000 after purchasing an additional 12,008 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Pacific Premier Bancorp by 30.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 127,814 shares of the financial services provider’s stock valued at $4,034,000 after acquiring an additional 29,651 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Pacific Premier Bancorp by 1.8% in the fourth quarter. Swiss National Bank now owns 229,257 shares of the financial services provider’s stock valued at $7,235,000 after acquiring an additional 4,100 shares during the last quarter. 94.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Sherri V. Scott sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $18.51, for a total value of $29,616.00. Following the completion of the sale, the executive vice president now directly owns 20,440 shares in the company, valued at approximately $378,344.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PPBI shares. TheStreet lowered shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Thursday, May 11th. Raymond James cut their price objective on shares of Pacific Premier Bancorp from $37.00 to $34.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 27th. Keefe, Bruyette & Woods cut their price target on shares of Pacific Premier Bancorp from $33.00 to $26.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. StockNews.com began coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Finally, Piper Sandler decreased their target price on shares of Pacific Premier Bancorp from $33.00 to $28.00 in a research report on Monday, May 1st.

Pacific Premier Bancorp Trading Down 2.0 %

NASDAQ:PPBI opened at $19.77 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 6.75 and a beta of 1.20. The firm has a fifty day simple moving average of $21.84 and a two-hundred day simple moving average of $29.02. Pacific Premier Bancorp, Inc. has a 12 month low of $17.53 and a 12 month high of $37.50.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.05). The firm had revenue of $242.53 million for the quarter, compared to the consensus estimate of $196.23 million. Pacific Premier Bancorp had a net margin of 30.86% and a return on equity of 10.05%. During the same period in the previous year, the business earned $0.70 earnings per share. Analysts expect that Pacific Premier Bancorp, Inc. will post 2.42 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Monday, May 8th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, May 5th. This represents a $1.32 annualized dividend and a yield of 6.68%. Pacific Premier Bancorp’s dividend payout ratio is currently 45.05%.

Pacific Premier Bancorp Company Profile

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Pacific Premier Bancorp, Inc is a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment.