Algert Global LLC Acquires 42,357 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Algert Global LLC raised its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 22.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 234,616 shares of the financial services provider's stock after buying an additional 42,357 shares during the quarter. Algert Global LLC owned about 0.24% of Pacific Premier Bancorp worth $5,903,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Natixis Advisors LLC lifted its stake in shares of Pacific Premier Bancorp by 1.0% in the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider's stock worth $1,124,000 after buying an additional 449 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Pacific Premier Bancorp by 1.8% during the second quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider's stock valued at $616,000 after purchasing an additional 482 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Pacific Premier Bancorp by 0.8% during the second quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider's stock valued at $1,742,000 after buying an additional 631 shares during the last quarter. GAMMA Investing LLC increased its holdings in Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock worth $30,000 after buying an additional 649 shares in the last quarter. Finally, KBC Group NV increased its holdings in Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after buying an additional 849 shares in the last quarter. Institutional investors own 93.11% of the company's stock.

Analyst Ratings Changes

Separately, Wedbush dropped 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 report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.50.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI traded up $0.82 during trading on Friday, hitting $28.73. The company's stock had a trading volume of 393,790 shares, compared to its average volume of 561,009. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.13. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of -191.52 and a beta of 1.21. 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 company has a 50-day moving average of $26.04 and a 200-day moving average of $24.55.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted 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 firm had revenue of $224.49 million during the quarter, compared to analysts' expectations of $153.23 million. During the same period last year, the business earned $0.48 EPS. On average, sell-side analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.59%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently -879.94%.

Insider Activity at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 30,499 shares of the company's 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 transaction, the chief operating officer now owns 230,592 shares of the company's stock, valued at approximately $5,448,888.96. This represents a 11.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by company insiders.

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.