Picton Mahoney Asset Management Invests $409,000 in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Picton Mahoney Asset Management bought a new stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the fourth quarter, Holdings Channel.com reports. The fund bought 14,038 shares of the financial services provider’s stock, valued at approximately $409,000.

A number of other large investors also recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Pacific Premier Bancorp in the fourth quarter valued at approximately $42,000. Bfsg LLC purchased a new position in shares of Pacific Premier Bancorp during the 4th quarter valued at approximately $93,000. Versor Investments LP acquired a new stake in Pacific Premier Bancorp in the 3rd quarter valued at $200,000. Bailard Inc. purchased a new stake in Pacific Premier Bancorp in the 4th quarter worth $207,000. Finally, Vest Financial LLC purchased a new stake in Pacific Premier Bancorp in the 4th quarter worth $237,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Trading Up 1.2 %

Shares of Pacific Premier Bancorp stock opened at $23.24 on Thursday. 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 0.90. The stock has a market cap of $2.24 billion, a P/E ratio of 178.77 and a beta of 1.21. The stock’s 50 day simple moving average is $22.72 and its 200-day simple moving average is $24.17.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results 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 company had revenue of $239.21 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $0.66 EPS. Analysts predict that Pacific Premier Bancorp, Inc. will post 1.79 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a $0.33 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 5.68%. Pacific Premier Bancorp’s payout ratio is 1,015.38%.

Analyst Upgrades and Downgrades

PPBI has been the topic of several research analyst reports. DA Davidson dropped their target price 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, April 25th. Wedbush reiterated a “neutral” rating and issued a $25.00 price objective on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Piper Sandler decreased their target price on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.33.

Insider Activity

In other Pacific Premier Bancorp news, Director Barbara Polsky bought 1,200 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was bought at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the purchase, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.21% of the company’s stock.

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.