Quantbot Technologies LP Boosts Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Quantbot Technologies LP lifted its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 118.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,588 shares of the financial services provider's stock after acquiring an additional 43,224 shares during the period. Quantbot Technologies LP owned 0.08% of Pacific Premier Bancorp worth $2,002,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Linden Thomas Advisory Services LLC grew its position in Pacific Premier Bancorp by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider's stock worth $1,221,000 after purchasing an additional 858 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Pacific Premier Bancorp by 215.7% during the second quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider's stock worth $837,000 after buying an additional 24,893 shares during the last quarter. AlphaMark Advisors LLC acquired a new position in Pacific Premier Bancorp in the 2nd quarter valued at about $317,000. Louisiana State Employees Retirement System increased its position in Pacific Premier Bancorp by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider's stock valued at $1,114,000 after acquiring an additional 1,000 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Pacific Premier Bancorp by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider's stock valued at $27,650,000 after acquiring an additional 16,038 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Pacific Premier Bancorp Stock Performance

PPBI traded down $0.33 during trading on Friday, reaching $28.40. The company's stock had a trading volume of 274,870 shares, compared to its average volume of 545,099. 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 company's fifty day moving average price is $26.35 and its 200-day moving average price is $24.70. Pacific Premier Bancorp, Inc. has a 52-week low of $20.52 and a 52-week high of $30.28. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -191.52 and a beta of 1.21.

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 for the quarter, missing analysts' consensus estimates 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 company earned $0.48 earnings per share. On average, equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.65%. Pacific Premier Bancorp's dividend payout ratio is presently -879.94%.

Insider Activity at Pacific Premier Bancorp

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now directly owns 25,475 shares of the company's stock, valued at approximately $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeff C. Jones sold 11,251 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the sale, the director now owns 123,794 shares in the company, valued at approximately $2,924,014.28. The trade was a 8.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,023 shares of company stock worth $1,245,713 over the last 90 days. Company insiders own 2.21% of the company's stock.

Wall Street Analyst Weigh In

Separately, 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 note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $26.50.

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.