Assenagon Asset Management S.A. Has $18.74 Million Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Assenagon Asset Management S.A. lifted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 16.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 751,987 shares of the financial services provider's stock after buying an additional 107,544 shares during the period. Assenagon Asset Management S.A. owned approximately 0.78% of Pacific Premier Bancorp worth $18,740,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in 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 valued at $129,645,000 after purchasing an additional 238,854 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Pacific Premier Bancorp by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider's stock valued at $69,651,000 after acquiring an additional 321,716 shares during the period. Geode Capital Management LLC grew its holdings in shares of Pacific Premier Bancorp by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider's stock valued at $57,960,000 after purchasing an additional 25,964 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Pacific Premier Bancorp by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider's stock worth $32,461,000 after buying an additional 52,962 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Pacific Premier Bancorp by 11.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 641,256 shares of the financial services provider's stock worth $16,134,000 after buying an additional 64,429 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares of the company's stock, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares of the company's stock, valued at $712,281. This represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Wedbush decreased their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.50.

Pacific Premier Bancorp Price Performance

PPBI stock traded up $0.41 during trading hours on Friday, hitting $24.58. 402,045 shares of the stock traded hands, compared to its average volume of 436,523. The stock has a 50-day simple moving average of $26.38 and a 200 day simple moving average of $25.62. The company has a market cap of $2.37 billion, a P/E ratio of -163.86 and a beta of 1.26. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The firm had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same quarter in the prior year, the company earned $0.48 EPS. Equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.59 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued 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 5.37%. Pacific Premier Bancorp's dividend payout ratio is -879.94%.

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.