Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 85.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 41,970 shares of the financial services provider’s stock after selling 237,473 shares during the period. Phocas Financial Corp.’s holdings in Pacific Premier Bancorp were worth $1,046,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Algert Global LLC raised its position in Pacific Premier Bancorp by 22.0% during the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock valued at $5,903,000 after acquiring an additional 42,357 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Pacific Premier Bancorp by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock valued at $3,787,000 after purchasing an additional 8,145 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at $784,000. Azora Capital LP purchased a new stake in Pacific Premier Bancorp during the third quarter worth $12,187,000. Finally, Barclays PLC grew its position in Pacific Premier Bancorp by 71.4% during the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after buying an additional 84,859 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, DA Davidson decreased their price objective on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $23.81 on Wednesday. The company has a fifty day moving average of $24.92 and a two-hundred day moving average of $25.64. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The stock has a market capitalization of $2.30 billion, a PE ratio of 14.52 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.

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

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Monday, February 3rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Monday, February 3rd. Pacific Premier Bancorp’s payout ratio is 80.49%.

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.