Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Purchased by Phocas Financial Corp.

Phocas Financial Corp. lifted its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 65.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,443 shares of the financial services provider's stock after acquiring an additional 110,885 shares during the quarter. Phocas Financial Corp. owned 0.29% of Pacific Premier Bancorp worth $7,031,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased 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 purchasing an additional 649 shares in the last quarter. nVerses Capital LLC lifted its holdings in Pacific Premier Bancorp by 93.8% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider's stock valued at $71,000 after purchasing an additional 1,500 shares in the last quarter. KBC Group NV grew 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 valued at $93,000 after purchasing an additional 849 shares during the period. Innealta Capital LLC purchased a new stake in shares of Pacific Premier Bancorp during the second quarter worth about $95,000. Finally, Point72 DIFC Ltd increased its stake in shares of Pacific Premier Bancorp by 202.9% during the second 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 in the last quarter. Hedge funds and other institutional investors own 93.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PPBI. Wedbush lowered their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Raymond James raised their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Finally, Stephens upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $26.50.

Pacific Premier Bancorp Trading Down 0.5 %

NASDAQ PPBI traded down $0.13 on Tuesday, reaching $27.49. The stock had a trading volume of 124,096 shares, compared to its average volume of 545,723. The stock has a fifty day moving average price of $25.70 and a two-hundred day moving average price of $24.42. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.13. 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 firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -181.72 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 (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 analyst estimates of $153.23 million. During the same quarter in the prior year, the firm posted $0.48 EPS. As a group, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders 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 4.80%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp's dividend payout ratio is presently -879.94%.

Insiders Place Their Bets

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 25,475 shares of the company's stock, valued at $712,281. The trade was a 26.69 % 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, COO Edward Earl Wilcox sold 30,499 shares of the company'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 completion of the sale, the chief operating officer now directly owns 230,592 shares of the company's stock, valued at approximately $5,448,888.96. This trade represents a 11.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,023 shares of company stock valued at $1,245,713 in the last ninety days. Insiders own 2.21% of the company's stock.

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.