HighTower Advisors LLC Increases Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

HighTower Advisors LLC increased its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,599 shares of the financial services provider’s stock after purchasing an additional 789 shares during the quarter. HighTower Advisors LLC’s holdings in Pacific Premier Bancorp were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of PPBI. Dimensional Fund Advisors LP raised its holdings 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 worth $129,645,000 after acquiring an additional 238,854 shares during the last quarter. American Century Companies Inc. increased its stake 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Pacific Premier Bancorp by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after acquiring an additional 321,716 shares during the period. Victory Capital Management Inc. grew its holdings in 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 valued at $35,979,000 after buying an additional 122,285 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Pacific Premier Bancorp by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider’s stock valued at $32,461,000 after purchasing an additional 52,962 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wedbush dropped their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.50.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $25.07 on Friday. The business’s fifty day simple moving average is $27.10 and its 200-day simple moving average is $25.17. The company has a current ratio of 0.88, a quick 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 $30.28. The company has a market cap of $2.42 billion, a PE ratio of -167.12 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly 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 business had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the company posted $0.48 earnings per share. Analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.27%. Pacific Premier Bancorp’s payout ratio is -880.00%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction on 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 transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares in the company, valued at approximately $2,135,466.38. The trade was a 11.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

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.