Algert Global LLC Buys 42,357 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Algert Global LLC raised its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 22.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 234,616 shares of the financial services provider’s stock after purchasing an additional 42,357 shares during the period. Algert Global LLC owned 0.24% of Pacific Premier Bancorp worth $5,903,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Pacific Premier Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after purchasing an additional 238,854 shares during the last quarter. American Century Companies Inc. raised its position in Pacific Premier Bancorp by 6.1% during the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after purchasing an additional 242,721 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Pacific Premier Bancorp by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after acquiring an additional 321,716 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Pacific Premier Bancorp by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider’s stock worth $32,461,000 after acquiring an additional 52,962 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wedbush lowered their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One investment 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’s stock. According to data from MarketBeat, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Stock Performance

PPBI stock opened at $28.73 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $26.04 and a 200-day moving average price of $24.55. The firm has a market cap of $2.77 billion, a PE ratio of -191.52 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period in the previous year, the company posted $0.48 EPS. As a group, equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a $0.33 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.59%. Pacific Premier Bancorp’s dividend payout ratio is presently -879.94%.

Insider Activity

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 11.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock worth $1,245,713 in the last three months. Company insiders own 2.21% of the company’s stock.

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.