Illinois Municipal Retirement Fund Sells 6,312 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Illinois Municipal Retirement Fund decreased its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,850 shares of the financial services provider’s stock after selling 6,312 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Pacific Premier Bancorp worth $1,480,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPBI. WBI Investments Inc. increased its position in Pacific Premier Bancorp by 4.8% during the third quarter. WBI Investments Inc. now owns 15,328 shares of the financial services provider’s stock valued at $334,000 after acquiring an additional 708 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Pacific Premier Bancorp by 7.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 14,882 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 1,052 shares during the period. Teza Capital Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 13.6% in the third quarter. Teza Capital Management LLC now owns 13,417 shares of the financial services provider’s stock worth $292,000 after buying an additional 1,610 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Pacific Premier Bancorp by 11.5% in the fourth quarter. Moody National Bank Trust Division now owns 18,347 shares of the financial services provider’s stock worth $534,000 after buying an additional 1,892 shares during the last quarter. Finally, Swiss National Bank grew its position in Pacific Premier Bancorp by 1.1% during the third quarter. Swiss National Bank now owns 210,657 shares of the financial services provider’s stock valued at $4,584,000 after buying an additional 2,200 shares during the period. Institutional investors own 93.11% of the company’s stock.

Insider Buying and Selling

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PPBI. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday. DA Davidson decreased their price objective on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods dropped their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Thursday. Stephens reissued an “equal weight” rating and set a $28.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Finally, TheStreet downgraded Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.17.

Pacific Premier Bancorp Trading Down 0.8 %

Shares of NASDAQ PPBI opened at $21.98 on Friday. Pacific Premier Bancorp, Inc. has a 1-year low of $17.53 and a 1-year high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93. The business’s 50 day moving average is $22.96 and its two-hundred day moving average is $24.08. The stock has a market capitalization of $2.11 billion, a P/E ratio of 169.09 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $239.21 million for the quarter, compared to the consensus estimate of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.89 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 6.01%. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

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.