GW&K Investment Management LLC trimmed its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 812,708 shares of the financial services provider’s stock after selling 16,674 shares during the period. GW&K Investment Management LLC owned 1.30% of Pacific Premier Bancorp worth $25,096,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in shares of Pacific Premier Bancorp by 9.0% in the second quarter. Janus Henderson Group PLC now owns 5,046,515 shares of the financial services provider’s stock valued at $155,836,000 after purchasing an additional 417,199 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Pacific Premier Bancorp by 28.0% in the first quarter. The Manufacturers Life Insurance Company now owns 1,380,842 shares of the financial services provider’s stock valued at $36,634,000 after purchasing an additional 301,904 shares during the last quarter. Emerald Advisers LLC increased its holdings in shares of Pacific Premier Bancorp by 3.0% in the second quarter. Emerald Advisers LLC now owns 809,140 shares of the financial services provider’s stock valued at $24,986,000 after purchasing an additional 23,620 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Pacific Premier Bancorp by 7.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 735,944 shares of the financial services provider’s stock valued at $22,726,000 after purchasing an additional 51,330 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Pacific Premier Bancorp by 4,601.2% in the first quarter. JPMorgan Chase & Co. now owns 715,755 shares of the financial services provider’s stock valued at $18,989,000 after purchasing an additional 700,530 shares during the last quarter. Institutional investors and hedge funds own 88.50% of the company’s stock.

Several research firms have commented on PPBI. Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “hold” rating to a “strong sell” rating in a report on Saturday, August 17th. BidaskClub upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, July 27th. ValuEngine upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Janney Montgomery Scott downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.50.

In other Pacific Premier Bancorp news, Director Joseph L. Garrett bought 1,000 shares of Pacific Premier Bancorp stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $28.78 per share, with a total value of $28,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.67% of the company’s stock.

Shares of Pacific Premier Bancorp stock traded down $1.12 during trading on Friday, reaching $28.87. The company’s stock had a trading volume of 376,459 shares, compared to its average volume of 357,611. The business’s 50-day moving average price is $30.18 and its 200-day moving average price is $29.50. The firm has a market cap of $1.81 billion, a PE ratio of 11.81, a P/E/G ratio of 1.50 and a beta of 1.24. Pacific Premier Bancorp, Inc. has a 52 week low of $23.01 and a 52 week high of $40.10. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.41.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, July 23rd. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.01). The business had revenue of $116.97 million during the quarter, compared to the consensus estimate of $120.85 million. Pacific Premier Bancorp had a net margin of 26.08% and a return on equity of 8.04%. During the same period in the previous year, the firm posted $0.58 EPS. Equities analysts predict that Pacific Premier Bancorp, Inc. will post 2.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, August 2nd were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.05%. Pacific Premier Bancorp’s payout ratio is presently 35.06%.

Pacific Premier Bancorp Company Profile

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.

Further Reading: CD Ladder

Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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