Thrivent Financial for Lutherans Trims Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Thrivent Financial for Lutherans lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,079 shares of the financial services provider’s stock after selling 1,974 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Pacific Premier Bancorp worth $1,964,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PPBI. GAMMA Investing LLC boosted its position in shares of Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 649 shares during the last quarter. nVerses Capital LLC boosted its holdings in Pacific Premier Bancorp by 93.8% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,500 shares during the last quarter. KBC Group NV grew its stake in shares of Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock valued at $93,000 after buying an additional 849 shares during the period. Innealta Capital LLC acquired a new stake in shares of Pacific Premier Bancorp during the 2nd quarter worth approximately $95,000. Finally, Point72 DIFC Ltd raised its position in shares of 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 valued at $183,000 after buying an additional 5,336 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wedbush cut their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Trading Down 0.5 %

PPBI opened at $28.73 on Friday. The business’s 50 day moving average is $26.29 and its two-hundred day moving average is $24.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -191.52 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its 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 business had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same period in the previous year, the business posted $0.48 earnings per share. On average, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm 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 4.59%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -879.94%.

Insider Buying and Selling

In related news, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction on 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 sale, the director now owns 123,794 shares in the company, valued at approximately $2,924,014.28. The trade was a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. The trade was a 26.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,023 shares of company stock valued at $1,245,713. 2.21% of the stock is currently owned by company insiders.

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.