JPMorgan Chase & Co. Has $3.79 Million Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

JPMorgan Chase & Co. raised its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,535 shares of the financial services provider’s stock after purchasing an additional 8,145 shares during the quarter. JPMorgan Chase & Co. owned 0.16% of Pacific Premier Bancorp worth $3,787,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Pacific Premier Bancorp by 4.4% in the second 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 period. Renaissance Technologies LLC lifted its position in shares of Pacific Premier Bancorp by 53.3% in the 2nd quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock worth $5,114,000 after purchasing an additional 77,400 shares during the period. Intech Investment Management LLC acquired a new position in shares of Pacific Premier Bancorp in the 2nd quarter worth approximately $420,000. Profund Advisors LLC bought a new stake in shares of Pacific Premier Bancorp in the 2nd quarter valued at $225,000. Finally, Public Sector Pension Investment Board increased its position in shares of Pacific Premier Bancorp by 7.9% during the second quarter. Public Sector Pension Investment Board now owns 212,145 shares of the financial services provider’s stock worth $4,873,000 after buying an additional 15,576 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Activity

In related news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the sale, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $259,273.08. Following the sale, the executive vice president now owns 25,475 shares in the company, 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. Corporate insiders own 2.21% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush cut 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 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, the stock currently has a consensus rating of “Hold” and an average target price of $26.50.

Pacific Premier Bancorp Trading Up 1.7 %

Shares of Pacific Premier Bancorp stock opened at $24.58 on Friday. The stock has a market capitalization of $2.37 billion, a PE ratio of -163.86 and a beta of 1.26. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28. The stock has a 50 day moving average price of $26.38 and a two-hundred day moving average price of $25.64. 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 (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.59 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

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.