Public Sector Pension Investment Board Cuts Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Public Sector Pension Investment Board cut its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 204,545 shares of the financial services provider’s stock after selling 7,600 shares during the period. Public Sector Pension Investment Board’s holdings in Pacific Premier Bancorp were worth $5,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PPBI. GAMMA Investing LLC lifted its position in shares of Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 649 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Pacific Premier Bancorp by 93.8% in 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 period. KBC Group NV grew its stake in shares of Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after buying an additional 849 shares during the period. Innealta Capital LLC purchased a new stake in shares of Pacific Premier Bancorp during the 2nd quarter valued at approximately $95,000. Finally, FMR LLC lifted its holdings in Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Down 1.1 %

PPBI stock opened at $28.40 on Monday. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The company’s 50 day moving average price is $26.41 and its 200 day moving average price is $24.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -189.32 and a beta of 1.21.

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

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.65%. Pacific Premier Bancorp’s dividend payout ratio is presently -879.94%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the sale, 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 have sold a total of 51,023 shares of company stock valued at $1,245,713 over the last quarter. Company insiders own 2.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush decreased their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.50.

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.