Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Holdings Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 13.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,768,341 shares of the financial services provider's stock after purchasing an additional 321,716 shares during the period. Massachusetts Financial Services Co. MA owned approximately 2.87% of Pacific Premier Bancorp worth $69,651,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Intech Investment Management LLC grew its holdings in Pacific Premier Bancorp by 77.7% in the third quarter. Intech Investment Management LLC now owns 32,466 shares of the financial services provider's stock valued at $817,000 after purchasing an additional 14,196 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of 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 valued at $16,134,000 after acquiring an additional 64,429 shares in the last quarter. Phocas Financial Corp. lifted its position in shares of Pacific Premier Bancorp by 65.8% in the third quarter. Phocas Financial Corp. now owns 279,443 shares of the financial services provider's stock valued at $7,031,000 after acquiring an additional 110,885 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $313,000. Finally, Natixis Advisors LLC lifted its position 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 valued at $1,124,000 after acquiring an additional 449 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wedbush cut their target price 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 given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $26.50.

Insider Activity at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This trade 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 available at this hyperlink. 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 owns 25,475 shares of the company's stock, valued at $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 90 days, insiders have sold 51,023 shares of company stock valued at $1,245,713. 2.21% of the stock is owned by corporate insiders.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock traded up $0.77 on Monday, hitting $29.50. The stock had a trading volume of 177,301 shares, compared to its average volume of 544,178. Pacific Premier Bancorp, Inc. has a 52-week low of $20.52 and a 52-week high of $30.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The company's 50 day moving average price is $26.04 and its 200 day moving average price is $24.56.

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 business had revenue of $224.49 million during the quarter, compared to analysts' expectations of $153.23 million. During the same period in the previous year, the company posted $0.48 earnings per share. On average, analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp's payout ratio is currently -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.