Summit Trail Advisors LLC Invests $383,000 in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Summit Trail Advisors LLC purchased a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the fourth quarter, Holdings Channel.com reports. The firm purchased 15,371 shares of the financial services provider’s stock, valued at approximately $383,000.

A number of other hedge funds have also recently bought and sold shares of the business. Azora Capital LP bought a new stake in shares of Pacific Premier Bancorp in the 3rd quarter worth about $12,187,000. Massachusetts Financial Services Co. MA raised its stake in Pacific Premier Bancorp by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after buying an additional 321,716 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Pacific Premier Bancorp by 61.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after buying an additional 245,771 shares during the last quarter. Phocas Financial Corp. grew its position in shares of Pacific Premier Bancorp by 65.8% in the 3rd quarter. Phocas Financial Corp. now owns 279,443 shares of the financial services provider’s stock worth $7,031,000 after acquiring an additional 110,885 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Pacific Premier Bancorp by 71.4% in the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after acquiring an additional 84,859 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

PPBI has been the topic of several research analyst reports. Wedbush decreased their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th. DA Davidson reduced their price target on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has a consensus rating of “Hold” and an average price target of $27.00.

Pacific Premier Bancorp Stock Performance

PPBI stock opened at $24.95 on Thursday. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 15.21 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s fifty day moving average is $25.41 and its two-hundred day moving average is $25.66.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. On average, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 80.49%.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.21% of the stock is owned by insiders.

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.