Amalgamated Bank Sells 1,047 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Amalgamated Bank lessened its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,365 shares of the financial services provider’s stock after selling 1,047 shares during the quarter. Amalgamated Bank’s holdings in Pacific Premier Bancorp were worth $714,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PPBI. GAMMA Investing LLC increased 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 purchasing an additional 649 shares during the last quarter. nVerses Capital LLC boosted its holdings in Pacific Premier Bancorp by 93.8% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,500 shares during the period. Innealta Capital LLC purchased a new position in Pacific Premier Bancorp during the 2nd quarter valued at $95,000. Point72 DIFC Ltd boosted its holdings in 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 acquiring an additional 5,336 shares during the period. Finally, Profund Advisors LLC purchased a new position in Pacific Premier Bancorp during the 2nd quarter valued at $225,000. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Up 0.3 %

Shares of NASDAQ:PPBI opened at $27.75 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $2.68 billion, a PE ratio of -184.99 and a beta of 1.21. The firm’s 50-day moving average is $25.62 and its two-hundred day moving average is $24.35. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share 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 analysts’ expectations of $153.23 million. During the same quarter last year, the firm earned $0.48 EPS. Analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were given a $0.33 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.76%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -879.94%.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction on Thursday, November 7th. The stock was 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 owns 25,475 shares of the company’s stock, valued at $712,281. The trade was a 26.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This trade represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,023 shares of company stock worth $1,245,713 in the last three months. Insiders own 2.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Stephens boosted their price objective on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Raymond James upped their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Wedbush lowered their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pacific Premier Bancorp has a consensus rating of “Hold” and an average price target of $26.50.

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.