GSA Capital Partners LLP Invests $417,000 in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

GSA Capital Partners LLP purchased a new position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,556 shares of the financial services provider’s stock, valued at approximately $417,000.

Several other institutional investors have also recently made changes to their positions in PPBI. Kennedy Capital Management LLC bought a new position in shares of Pacific Premier Bancorp in the first quarter worth $7,812,000. Assenagon Asset Management S.A. increased its holdings in shares of Pacific Premier Bancorp by 61.6% in the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after purchasing an additional 245,771 shares during the period. American Century Companies Inc. increased its holdings in shares of Pacific Premier Bancorp by 6.1% in the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after purchasing an additional 242,721 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Pacific Premier Bancorp by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after purchasing an additional 238,854 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Pacific Premier Bancorp by 38.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock worth $13,250,000 after purchasing an additional 161,348 shares during the period. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $27.61 on Thursday. The company has a 50-day simple moving average of $25.86 and a two-hundred day simple moving average of $24.48. 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, Inc. has a 12-month low of $20.52 and a 12-month high of $30.13. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -184.05 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 (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same period last year, the firm posted $0.48 EPS. On average, equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were given a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 4.78%. Pacific Premier Bancorp’s payout ratio is -879.94%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Raymond James increased their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Stephens increased their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Finally, Wedbush reduced their target price 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $26.50.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the 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 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 document filed with the SEC, which is accessible through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This represents a 11.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock worth $1,245,713 over the last three months. Company insiders own 2.21% of the company’s stock.

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.