Fmr LLC Grows Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Fmr LLC raised its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 11.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,782 shares of the financial services provider’s stock after buying an additional 723 shares during the quarter. Fmr LLC’s holdings in Pacific Premier Bancorp were worth $171,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of PPBI. Louisiana State Employees Retirement System raised its holdings in Pacific Premier Bancorp by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,000 shares during the period. Bank of New York Mellon Corp grew 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. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Pacific Premier Bancorp by 6.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,924 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 1,363 shares during the period. Innealta Capital LLC purchased a new position in Pacific Premier Bancorp during the second quarter valued at approximately $95,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Pacific Premier Bancorp by 38.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock valued at $13,250,000 after purchasing an additional 161,348 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $2,135,466.38. This represents a 11.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the sale, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush lowered their price objective 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI opened at $25.07 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.28. The firm’s fifty day moving average is $27.08 and its two-hundred day moving average is $25.19. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -167.12 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $0.48 earnings per share. Research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 5.27%. Pacific Premier Bancorp’s dividend payout ratio is presently -880.00%.

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.