Chartwell Investment Partners LLC cut its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 310,627 shares of the financial services provider's stock after selling 32,513 shares during the quarter. Chartwell Investment Partners LLC owned 0.32% of Pacific Premier Bancorp worth $7,816,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of Pacific Premier Bancorp by 77.3% in the 1st quarter. BNP Paribas Financial Markets now owns 47,301 shares of the financial services provider's stock worth $1,135,000 after purchasing an additional 20,619 shares during the period. Texas Permanent School Fund Corp grew its holdings in Pacific Premier Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 83,931 shares of the financial services provider's stock valued at $2,014,000 after buying an additional 1,123 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Pacific Premier Bancorp in the first quarter valued at $653,000. SG Americas Securities LLC grew its position in shares of Pacific Premier Bancorp by 15.9% in the 1st quarter. SG Americas Securities LLC now owns 11,543 shares of the financial services provider's stock valued at $277,000 after buying an additional 1,580 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Pacific Premier Bancorp by 4.3% in the first quarter. Illinois Municipal Retirement Fund now owns 53,052 shares of the financial services provider's stock valued at $1,273,000 after buying an additional 2,202 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on PPBI shares. Wedbush lowered their target price on 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. Raymond James boosted their price target 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, Stephens lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an "equal weight" rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has an average rating of "Hold" and a consensus price target of $26.50.
Read Our Latest Stock Analysis on PPBI
Insider Activity at Pacific Premier Bancorp
In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares of the company's stock, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Edward Earl Wilcox sold 30,499 shares of the business's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares of the company's stock, valued at approximately $5,448,888.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff C. Jones sold 11,251 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the transaction, the director now owns 123,794 shares of the company's stock, valued at approximately $2,924,014.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by corporate insiders.
Pacific Premier Bancorp Price Performance
Shares of PPBI traded down $0.37 during mid-day trading on Tuesday, hitting $28.29. The company's stock had a trading volume of 755,616 shares, compared to its average volume of 549,117. 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, Inc. has a 1-year low of $19.32 and a 1-year high of $30.13. The firm has a 50-day simple moving average of $25.35 and a 200 day simple moving average of $24.22. The firm has a market capitalization of $2.73 billion, a P/E ratio of -191.07 and a beta of 1.21.
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 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.01). The business had revenue of $224.49 million during the quarter, compared to analysts' expectations of $153.23 million. During the same quarter in the previous year, the business earned $0.48 EPS. Analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.
Pacific Premier Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp's dividend payout ratio (DPR) is -880.00%.
Pacific Premier Bancorp Company Profile
(
Free Report)
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.
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