First Manhattan CO. LLC. Sells 7,500 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

First Manhattan CO. LLC. decreased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,469 shares of the financial services provider’s stock after selling 7,500 shares during the quarter. First Manhattan CO. LLC.’s holdings in Pacific Premier Bancorp were worth $959,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in Pacific Premier Bancorp by 158.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 1,853 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Pacific Premier Bancorp by 729.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 2,655 shares during the period. KBC Group NV increased its stake in shares of Pacific Premier Bancorp by 34.7% in the fourth quarter. KBC Group NV now owns 4,955 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,276 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter worth $158,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $220,000. 93.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PPBI. StockNews.com began coverage on shares of Pacific Premier Bancorp in a report on Tuesday, May 6th. They issued a “sell” rating for the company. DA Davidson lowered Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $27.25.

Pacific Premier Bancorp Price Performance

PPBI stock opened at $21.34 on Monday. 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 company’s fifty day moving average price is $20.73 and its 200-day moving average price is $24.07. Pacific Premier Bancorp, Inc. has a one year low of $18.06 and a one year high of $30.28. The company has a market capitalization of $2.07 billion, a PE ratio of 13.01 and a beta of 1.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The business had revenue of $144.83 million for the quarter, compared to analysts’ expectations of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same quarter in the previous year, the company earned $0.49 EPS. On average, equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend is Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the sale, the chief operating officer now directly owns 140,283 shares in the company, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.29% of the stock is owned by company 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.