Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 31.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,561 shares of the financial services provider’s stock after purchasing an additional 5,116 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pacific Premier Bancorp were worth $628,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. American Century Companies Inc. lifted its position in shares of Pacific Premier Bancorp by 5.0% during the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after buying an additional 198,874 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pacific Premier Bancorp by 13.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,278,555 shares of the financial services provider’s stock valued at $49,581,000 after purchasing an additional 269,119 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Pacific Premier Bancorp by 4.0% in the third quarter. Brown Advisory Inc. now owns 1,709,458 shares of the financial services provider’s stock worth $37,198,000 after purchasing an additional 66,113 shares during the period. Invesco Ltd. lifted its holdings in Pacific Premier Bancorp by 1.8% in the 3rd quarter. Invesco Ltd. now owns 1,392,420 shares of the financial services provider’s stock worth $30,299,000 after purchasing an additional 24,230 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Pacific Premier Bancorp by 9.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,040,270 shares of the financial services provider’s stock worth $22,636,000 after purchasing an additional 87,123 shares during the period. Institutional investors own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PPBI shares. Stephens restated an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Raymond James restated an “outperform” rating and issued a $25.00 target price (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday, April 25th. DA Davidson dropped their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.33.

Insider Activity at Pacific Premier Bancorp

In other news, Director Barbara Polsky purchased 1,200 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were acquired at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the purchase, the director now owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.21% of the stock is owned by insiders.

Pacific Premier Bancorp Stock Up 3.3 %

Shares of PPBI stock opened at $22.22 on Thursday. The stock’s fifty day moving average price is $22.79 and its 200 day moving average price is $24.12. Pacific Premier Bancorp, Inc. has a 1-year low of $17.53 and a 1-year high of $30.13. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 170.40 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) 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 net margin of 24.75% and a return on equity of 6.92%. During the same quarter in the prior year, the company posted $0.66 earnings per share. On average, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.84 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

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 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.