Marshall Wace LLP Purchases Shares of 76,699 Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Marshall Wace LLP acquired a new position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 76,699 shares of the financial services provider’s stock, valued at approximately $1,762,000. Marshall Wace LLP owned 0.08% of Pacific Premier Bancorp at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PPBI. Arizona State Retirement System boosted its holdings in shares of Pacific Premier Bancorp by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock worth $616,000 after buying an additional 482 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in shares of Pacific Premier Bancorp by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after acquiring an additional 858 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Pacific Premier Bancorp by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock valued at $1,114,000 after purchasing an additional 1,000 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Pacific Premier Bancorp during the first quarter worth approximately $27,000. Finally, Texas Permanent School Fund Corp lifted its holdings in Pacific Premier Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 83,931 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 1,123 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PPBI. Wedbush decreased their price objective on Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Raymond James boosted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Stephens raised their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Pacific Premier Bancorp has a consensus rating of “Hold” and an average target price of $26.83.

Pacific Premier Bancorp Stock Up 1.4 %

Shares of NASDAQ PPBI opened at $24.59 on Friday. The stock has a market capitalization of $2.37 billion, a P/E ratio of 189.15 and a beta of 1.22. The stock’s fifty day moving average is $24.84 and its 200 day moving average is $23.57. Pacific Premier Bancorp, Inc. has a 52 week low of $17.86 and a 52 week high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $154.62 million during the quarter, compared to the consensus estimate of $162.23 million. Pacific Premier Bancorp’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.32 annualized dividend and a yield of 5.37%. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.38%.

Insiders Place Their Bets

In other news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO Edward Earl Wilcox sold 30,499 shares of the company’s stock in a transaction on Monday, September 9th. The stock was 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 $5,448,888.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 completion of the transaction, the director now owns 123,794 shares in the company, valued at approximately $2,924,014.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

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.