Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lowered its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 53.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,288 shares of the financial services provider’s stock after selling 2,638 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Pacific Premier Bancorp were worth $53,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William Blair Investment Management LLC grew its holdings in shares of Pacific Premier Bancorp by 56.0% during the first quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock valued at $31,891,000 after purchasing an additional 477,167 shares during the last quarter. Kennedy Capital Management LLC bought a new position in shares of Pacific Premier Bancorp during the first quarter valued at approximately $7,812,000. American Century Companies Inc. grew its holdings in shares of Pacific Premier Bancorp by 6.1% during the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after purchasing an additional 242,721 shares during the last quarter. Dimensional Fund Advisors LP grew 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 buying an additional 238,854 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Pacific Premier Bancorp by 38.8% in the 2nd 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 buying an additional 161,348 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PPBI. Raymond James increased their price objective on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wedbush decreased their price objective on Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Finally, Stephens increased their price objective on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. One 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. Based on data from MarketBeat, Pacific Premier Bancorp presently has an average rating of “Hold” and an average target price of $26.83.

Pacific Premier Bancorp Stock Performance

PPBI opened at $24.59 on Friday. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 189.15 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. Pacific Premier Bancorp, Inc. has a 1-year low of $17.86 and a 1-year high of $30.13. The business has a 50 day moving average price of $24.84 and a two-hundred day moving average price of $23.58.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. During the same quarter last year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. Research analysts predict that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were given a dividend of $0.33 per share. The ex-dividend date was Monday, August 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.37%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.38%.

Insider Activity

In other news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.