Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 61.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 644,443 shares of the financial services provider's stock after buying an additional 245,771 shares during the period. Assenagon Asset Management S.A. owned approximately 0.67% of Pacific Premier Bancorp worth $16,214,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PPBI. Fidelis Capital Partners LLC purchased a new position in Pacific Premier Bancorp in the first quarter valued at approximately $27,000. GAMMA Investing LLC raised its stake in shares of Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 649 shares during the period. nVerses Capital LLC lifted its holdings in shares of Pacific Premier Bancorp by 93.8% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider's stock valued at $71,000 after acquiring an additional 1,500 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Pacific Premier Bancorp during the 2nd quarter valued at $95,000. Finally, Point72 DIFC Ltd boosted its position in Pacific Premier Bancorp by 202.9% during the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider's stock worth $183,000 after purchasing an additional 5,336 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Up 0.3 %

PPBI traded up $0.08 on Friday, reaching $25.09. The company's stock had a trading volume of 532,276 shares, compared to its average volume of 544,998. Pacific Premier Bancorp, Inc. has a 1 year low of $18.60 and a 1 year high of $30.13. The business's 50 day moving average is $25.09 and its 200 day moving average is $23.86. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 193.00 and a beta of 1.22.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results 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 firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the business posted $0.48 EPS. As a group, research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.64 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.26%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp's payout ratio is currently 1,015.38%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wedbush reduced their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday. Stephens boosted their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 25th. Finally, Raymond James increased their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. One research 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. Based on data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of "Hold" and a consensus target price of $26.50.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the transaction, the chief operating officer now owns 230,592 shares of the company's stock, valued at $5,448,888.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm's stock in a transaction dated Monday, September 9th. The shares were 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 of the company's stock, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeff C. Jones sold 11,251 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company's stock, valued at $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by company 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.