Fisher Asset Management LLC Buys 199,000 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Fisher Asset Management LLC grew its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 58.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,000 shares of the financial services provider’s stock after purchasing an additional 199,000 shares during the quarter. Fisher Asset Management LLC owned approximately 0.56% of Pacific Premier Bancorp worth $13,382,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Algert Global LLC lifted its holdings in shares of Pacific Premier Bancorp by 22.0% in the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock valued at $5,903,000 after purchasing an additional 42,357 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Pacific Premier Bancorp by 5.7% in the third 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. bought a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $784,000. Azora Capital LP bought a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $12,187,000. Finally, Barclays PLC lifted its holdings in shares of Pacific Premier Bancorp by 71.4% in the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after purchasing an additional 84,859 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $23.38 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 14.26 and a beta of 1.26. The stock has a 50 day moving average of $24.81 and a 200 day moving average of $25.62. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28.

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

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Monday, February 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio is currently 80.49%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the sale, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, DA Davidson decreased their price target on 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.00.

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.