Comerica Bank Sells 1,169 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Comerica Bank reduced its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,112 shares of the financial services provider’s stock after selling 1,169 shares during the quarter. Comerica Bank’s holdings in Pacific Premier Bancorp were worth $1,074,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PPBI. Vanguard Group Inc. grew its position in Pacific Premier Bancorp by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider’s stock worth $280,138,000 after purchasing an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Pacific Premier Bancorp by 2.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider’s stock worth $70,847,000 after buying an additional 74,644 shares during the period. Invesco Ltd. boosted its holdings in Pacific Premier Bancorp by 12.1% in the 4th quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock worth $55,990,000 after buying an additional 241,881 shares during the period. Alliancebernstein L.P. boosted its holdings in Pacific Premier Bancorp by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider’s stock valued at $36,567,000 after purchasing an additional 7,465 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Pacific Premier Bancorp by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider’s stock valued at $33,510,000 after purchasing an additional 54,518 shares during the period. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $22.86 on Tuesday. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 13.94 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $20.74 and a two-hundred day simple moving average of $24.06. Pacific Premier Bancorp, Inc. has a 52 week low of $18.06 and a 52 week high of $30.28.

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

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.77%. Pacific Premier Bancorp’s dividend payout ratio is presently 86.84%.

Insider Activity at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the sale, the chief operating officer now owns 140,283 shares in the company, valued at $2,844,939.24. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.29% of the stock is owned by insiders.

Analyst Ratings Changes

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

Pacific Premier Bancorp Company 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.