Hennessy Advisors Inc. Has $2.87 Million Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Hennessy Advisors Inc. lowered its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 115,000 shares of the financial services provider’s stock after selling 19,000 shares during the quarter. Hennessy Advisors Inc. owned about 0.12% of Pacific Premier Bancorp worth $2,866,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Natixis Advisors LLC increased its holdings in shares of Pacific Premier Bancorp by 1.0% in the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock valued at $1,124,000 after purchasing an additional 449 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Pacific Premier Bancorp by 0.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock valued at $1,742,000 after buying an additional 631 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after buying an additional 649 shares during the period. FMR LLC raised its position in shares of Pacific Premier Bancorp by 11.9% during the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 723 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Pacific Premier Bancorp by 4.4% during the third quarter. HighTower Advisors LLC now owns 18,599 shares of the financial services provider’s stock valued at $468,000 after acquiring an additional 789 shares during the period. Institutional investors own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

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 given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $26.50.

Insider Activity at Pacific Premier Bancorp

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction dated 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. This represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president now owns 79,474 shares in the company, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Stock Up 1.7 %

Shares of NASDAQ PPBI opened at $24.58 on Friday. Pacific Premier Bancorp, Inc. has a 52-week low of $20.52 and a 52-week high of $30.28. 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 stock has a market cap of $2.37 billion, a P/E ratio of -163.86 and a beta of 1.26. The firm has a 50 day moving average price of $26.38 and a 200 day moving average price of $25.62.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same quarter last year, the firm posted $0.48 EPS. Analysts expect that Pacific Premier Bancorp, Inc. will post 1.59 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.37%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio is currently -879.94%.

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.