Charles Schwab Investment Management Inc. Grows Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Charles Schwab Investment Management Inc. raised its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,290,172 shares of the financial services provider's stock after acquiring an additional 52,962 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.34% of Pacific Premier Bancorp worth $32,461,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PPBI. GAMMA Investing LLC boosted its holdings 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 buying an additional 649 shares during the last quarter. nVerses Capital LLC increased its position in shares of Pacific Premier Bancorp by 93.8% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider's stock worth $71,000 after purchasing an additional 1,500 shares during the period. KBC Group NV increased its position in shares of Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after purchasing an additional 849 shares during the period. Innealta Capital LLC bought a new position in Pacific Premier Bancorp in the second quarter valued at about $95,000. Finally, Point72 DIFC Ltd grew its position in Pacific Premier Bancorp by 202.9% in the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider's stock valued at $183,000 after acquiring an additional 5,336 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm's stock in a transaction dated 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 $712,281. This trade represents a 26.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the transaction, the director now owns 123,794 shares of the company's stock, valued at approximately $2,924,014.28. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wedbush decreased their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of "Hold" and a consensus target price of $26.50.

Pacific Premier Bancorp Trading Up 0.2 %

PPBI traded up $0.05 during trading on Wednesday, hitting $27.69. The company's stock had a trading volume of 397,442 shares, compared to its average volume of 544,685. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month 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 stock's fifty day moving average price is $26.51 and its 200-day moving average price is $24.82. The firm has a market capitalization of $2.67 billion, a P/E ratio of -184.25 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its 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 firm 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. Analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.77%. Pacific Premier Bancorp's payout ratio is -879.94%.

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.