Algert Global LLC Acquires 43,091 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Algert Global LLC boosted its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 28.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,259 shares of the financial services provider’s stock after acquiring an additional 43,091 shares during the period. Algert Global LLC owned about 0.20% of Pacific Premier Bancorp worth $4,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new position in Pacific Premier Bancorp during the 1st quarter worth about $27,000. nVerses Capital LLC grew its holdings in Pacific Premier Bancorp by 93.8% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,500 shares in the last quarter. Innealta Capital LLC bought a new position in Pacific Premier Bancorp during the 2nd quarter worth about $95,000. Point72 DIFC Ltd grew its holdings in Pacific Premier Bancorp by 202.9% during the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after acquiring an additional 5,336 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Pacific Premier Bancorp during the 1st quarter worth about $217,000. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Up 1.1 %

NASDAQ:PPBI opened at $25.16 on Tuesday. The company has a market cap of $2.43 billion, a PE ratio of 193.54 and a beta of 1.23. Pacific Premier Bancorp, Inc. has a twelve month low of $17.86 and a twelve month high of $30.13. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $25.09 and its two-hundred day moving average is $23.53.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $162.23 million. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, August 5th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.25%. The ex-dividend date was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.38%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction 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 approximately $5,448,888.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction 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 approximately $5,448,888.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were 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. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PPBI has been the topic of a number of recent analyst reports. Stephens raised their price target on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Raymond James raised their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Wedbush lowered their price target on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. One equities research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.83.

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.