Hotchkis & Wiley Capital Management LLC Sells 18,590 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Hotchkis & Wiley Capital Management LLC decreased its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 255,052 shares of the financial services provider's stock after selling 18,590 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.26% of Pacific Premier Bancorp worth $6,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PPBI. Natixis Advisors LLC boosted its holdings in shares of Pacific Premier Bancorp by 1.0% during the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider's stock worth $1,124,000 after acquiring an additional 449 shares during the period. Arizona State Retirement System raised its position in 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 stake in Pacific Premier Bancorp by 0.8% in 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 in the last quarter. GAMMA Investing LLC increased its position in Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock worth $30,000 after purchasing an additional 649 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock valued at $171,000 after acquiring an additional 723 shares in the last quarter. Institutional investors own 93.11% of the company's stock.

Insider Activity

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 11.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the business's stock in a transaction that occurred on 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 owns 25,475 shares of the company's stock, valued at approximately $712,281. This represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,023 shares of company stock worth $1,245,713 in the last quarter. 2.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Pacific Premier Bancorp Trading Up 0.9 %

PPBI stock traded up $0.26 during midday trading on Friday, hitting $27.77. The stock had a trading volume of 264,756 shares, compared to its average volume of 542,479. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.68 billion, a P/E ratio of -184.72 and a beta of 1.24. The business has a fifty day moving average price of $26.63 and a two-hundred day moving average price of $24.85. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $153.23 million. During the same quarter last year, the company earned $0.48 earnings per share. On average, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 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 given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp's dividend payout ratio (DPR) is -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.