Strs Ohio boosted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) by 118.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 40,000 shares of the financial services provider’s stock after acquiring an additional 21,700 shares during the quarter. Strs Ohio’s holdings in Pacific Premier Bancorp were worth $1,169,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Pacific Premier Bancorp by 1.3% during the 1st quarter. BlackRock Inc. now owns 13,907,212 shares of the financial services provider’s stock worth $491,621,000 after acquiring an additional 174,646 shares during the period. Vanguard Group Inc. lifted its position in Pacific Premier Bancorp by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 10,993,185 shares of the financial services provider’s stock worth $388,609,000 after acquiring an additional 366,905 shares during the period. Dimensional Fund Advisors LP lifted its position in Pacific Premier Bancorp by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,100,097 shares of the financial services provider’s stock worth $180,292,000 after acquiring an additional 60,891 shares during the period. State Street Corp lifted its position in Pacific Premier Bancorp by 10.5% during the 1st quarter. State Street Corp now owns 4,744,931 shares of the financial services provider’s stock worth $167,733,000 after acquiring an additional 452,218 shares during the period. Finally, American Century Companies Inc. lifted its position in Pacific Premier Bancorp by 11.9% during the 1st quarter. American Century Companies Inc. now owns 2,794,597 shares of the financial services provider’s stock worth $98,789,000 after acquiring an additional 296,913 shares during the period. Institutional investors and hedge funds own 92.81% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on PPBI. StockNews.com began coverage on Pacific Premier Bancorp in a report on Wednesday. They issued a “hold” rating for the company. Raymond James raised Pacific Premier Bancorp from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the company from $41.00 to $35.00 in a report on Thursday, July 7th. Finally, Piper Sandler decreased their price objective on Pacific Premier Bancorp to $41.00 in a report on Monday, July 4th.
Pacific Premier Bancorp Stock Performance
NASDAQ PPBI opened at $33.85 on Friday. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 10.35 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a twelve month low of $27.92 and a twelve month high of $45.24. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $33.06 and a 200 day moving average of $32.38.
Pacific Premier Bancorp (NASDAQ:PPBI – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The company had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $193.39 million. Pacific Premier Bancorp had a return on equity of 11.07% and a net margin of 38.46%. Pacific Premier Bancorp’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 2.99 EPS for the current fiscal year.
Pacific Premier Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Monday, August 1st were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $1.32 dividend on an annualized basis and a yield of 3.90%. Pacific Premier Bancorp’s payout ratio is 40.37%.
About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
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