Emerald Mutual Fund Advisers Trust Sells 130,813 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Emerald Mutual Fund Advisers Trust lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 93.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,875 shares of the financial services provider’s stock after selling 130,813 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Pacific Premier Bancorp were worth $227,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PPBI. Arizona State Retirement System grew its holdings in Pacific Premier Bancorp by 1.8% during the second quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 482 shares during the period. Victory Capital Management Inc. increased its holdings in Pacific Premier Bancorp by 8.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock worth $35,979,000 after acquiring an additional 122,285 shares during the last quarter. Natixis Advisors LLC raised its stake in Pacific Premier Bancorp by 7.6% in the 2nd quarter. Natixis Advisors LLC now owns 44,236 shares of the financial services provider’s stock valued at $1,016,000 after acquiring an additional 3,139 shares during the period. nVerses Capital LLC lifted its holdings in Pacific Premier Bancorp by 93.8% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,500 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Pacific Premier Bancorp by 38.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock valued at $13,250,000 after purchasing an additional 161,348 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PPBI. Stephens boosted their price target on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a report on Friday, May 17th. Wedbush increased their target price on Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Raymond James lifted their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Stock Down 3.0 %

PPBI opened at $23.86 on Friday. The firm has a market capitalization of $2.30 billion, a P/E ratio of 183.54 and a beta of 1.23. Pacific Premier Bancorp, Inc. has a one year low of $17.86 and a one year high of $30.13. The company has a fifty day moving average price of $25.05 and a 200-day moving average price of $23.38. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $162.23 million. Pacific Premier Bancorp’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.38%.

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.