Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Short Interest Update

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,600,000 shares, a drop of 21.6% from the October 15th total of 2,040,000 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average daily volume of 544,200 shares, the short-interest ratio is presently 2.9 days.

Insider Buying and Selling 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 transaction of $259,273.08. Following the completion of the sale, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. This represents a 26.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. The trade was a 11.68 % 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 ninety days. Corporate insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

Institutional investors have recently bought and sold shares of the business. Azora Capital LP purchased a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at $12,187,000. Kennedy Capital Management LLC purchased a new position in shares of Pacific Premier Bancorp during the first quarter worth about $7,812,000. Massachusetts Financial Services Co. MA increased its position in shares of Pacific Premier Bancorp by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after purchasing an additional 321,716 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after purchasing an additional 245,771 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after purchasing an additional 242,721 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Trading Up 0.3 %

PPBI stock opened at $27.75 on Friday. The business’s 50-day moving average is $25.62 and its two-hundred day moving average is $24.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp has a 1 year low of $20.52 and a 1 year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (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 the consensus estimate of $153.23 million. During the same period in the prior year, the company earned $0.48 EPS. On average, equities research analysts anticipate that Pacific Premier Bancorp will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PPBI shares. Raymond James increased their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Stephens raised their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Wedbush cut their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus target price of $26.50.

About Pacific Premier Bancorp

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.