William Blair Investment Management LLC Grows Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

William Blair Investment Management LLC increased its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 915,636 shares of the financial services provider’s stock after buying an additional 3,645 shares during the quarter. William Blair Investment Management LLC owned about 0.96% of Pacific Premier Bancorp worth $21,994,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. First Republic Investment Management Inc. raised its holdings in shares of Pacific Premier Bancorp by 11.4% in the 1st quarter. First Republic Investment Management Inc. now owns 9,558 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 979 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Pacific Premier Bancorp by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 885,247 shares of the financial services provider’s stock valued at $21,264,000 after buying an additional 20,838 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Pacific Premier Bancorp by 26.2% in the first quarter. Profund Advisors LLC now owns 9,418 shares of the financial services provider’s stock valued at $226,000 after buying an additional 1,955 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Pacific Premier Bancorp by 10.3% in the first quarter. American Century Companies Inc. now owns 3,670,260 shares of the financial services provider’s stock valued at $88,160,000 after buying an additional 341,321 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Pacific Premier Bancorp by 5.1% in the first quarter. Rhumbline Advisers now owns 312,461 shares of the financial services provider’s stock valued at $7,505,000 after buying an additional 15,114 shares in the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $23.76 on Friday. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 8.49 and a beta of 1.25. The stock has a 50 day moving average of $23.04 and a 200-day moving average of $23.61. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.40. Pacific Premier Bancorp, Inc. has a 52 week low of $17.53 and a 52 week high of $37.50.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.59 by $0.01. The company had revenue of $245.93 million during the quarter, compared to analyst estimates of $180.58 million. Pacific Premier Bancorp had a return on equity of 9.53% and a net margin of 28.25%. During the same quarter last year, the firm earned $0.73 EPS. As a group, analysts forecast that Pacific Premier Bancorp, Inc. will post 2.35 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend was Friday, August 4th. Pacific Premier Bancorp’s payout ratio is 47.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PPBI shares. Wedbush increased their target price on Pacific Premier Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Thursday, May 11th. Piper Sandler raised their price objective on Pacific Premier Bancorp from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Stephens raised their price objective on Pacific Premier Bancorp from $23.00 to $26.00 in a research note on Monday, July 31st. Finally, StockNews.com upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pacific Premier Bancorp presently has an average rating of “Moderate Buy” and an average target price of $28.40.

Pacific Premier Bancorp Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services to businesses, professionals, real estate investors, and non-profit organizations in the United States. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.