Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock Position Increased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,290,172 shares of the financial services provider’s stock after purchasing an additional 52,962 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.34% of Pacific Premier Bancorp worth $32,461,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after purchasing an additional 238,854 shares during the last quarter. American Century Companies Inc. raised its position in shares of Pacific Premier Bancorp by 6.1% during the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after buying an additional 242,721 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Pacific Premier Bancorp by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after buying an additional 321,716 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Pacific Premier Bancorp by 8.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock worth $35,979,000 after buying an additional 122,285 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Pacific Premier Bancorp by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock worth $27,650,000 after buying an additional 16,038 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Down 1.7 %

NASDAQ PPBI opened at $27.64 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The company’s 50 day simple moving average is $26.46 and its 200 day simple moving average is $24.79. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.37 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 analyst estimates of $153.23 million. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current 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. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.78%. Pacific Premier Bancorp’s payout ratio is currently -879.94%.

Analyst Ratings Changes

Separately, Wedbush dropped their price target on shares of 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 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.com, the company presently has an average rating of “Hold” and an average target price of $26.50.

Insider Buying and Selling

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 transaction, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. The trade was a 11.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the sale, the executive vice president now owns 25,475 shares of the company’s stock, valued at $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock worth $1,245,713 in the last ninety days. 2.21% of the stock is currently owned by corporate 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.