Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,000 shares of the financial services provider's stock after selling 19,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.12% of Pacific Premier Bancorp worth $2,866,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Algert Global LLC boosted its holdings in Pacific Premier Bancorp by 22.0% in the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider's stock valued at $5,903,000 after purchasing an additional 42,357 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pacific Premier Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider's stock worth $129,645,000 after buying an additional 238,854 shares during the last quarter. Renaissance Technologies LLC boosted its holdings 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 valued at $5,114,000 after buying an additional 77,400 shares in the last quarter. Azora Capital LP purchased a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at $12,187,000. Finally, Franklin Resources Inc. acquired a new stake in Pacific Premier Bancorp during the 3rd quarter worth $784,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI traded up $0.41 during trading on Friday, reaching $24.58. The company's stock had a trading volume of 402,045 shares, compared to its average volume of 436,523. The business's fifty day moving average price is $26.38 and its 200-day moving average price is $25.62. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -163.86 and a beta of 1.26.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued 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 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. As a group, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.59 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

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 dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.37%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp's dividend payout ratio is presently -879.94%.

Wall Street Analysts Forecast Growth

Separately, Wedbush decreased their price objective on shares of 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 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the 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 completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael S. Karr sold 10,290 shares of the firm's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value 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 position. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by 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.