Quest Partners LLC Sells 50,526 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Quest Partners LLC lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 52.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,864 shares of the financial services provider's stock after selling 50,526 shares during the period. Quest Partners LLC's holdings in Pacific Premier Bancorp were worth $1,154,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in 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 in the last quarter. 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 worth $71,000 after acquiring an additional 1,500 shares during the last quarter. KBC Group NV lifted its holdings in shares of Pacific Premier Bancorp by 30.0% during the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after acquiring an additional 849 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of Pacific Premier Bancorp during the 2nd quarter worth $95,000. Finally, Point72 DIFC Ltd raised its position in Pacific Premier Bancorp by 202.9% in 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. Hedge funds and other institutional investors own 93.11% of the company's stock.

Analyst Ratings Changes

PPBI has been the topic of a number of analyst reports. Stephens lifted their target price on shares of 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. Wedbush decreased their target price on shares of 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. Finally, Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Pacific Premier Bancorp currently has an average rating of "Hold" and a consensus target price of $26.50.

Insider Activity at Pacific Premier Bancorp

In related news, Director Jeff C. Jones sold 11,251 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the sale, the director now owns 123,794 shares of the company's stock, valued at $2,924,014.28. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Edward Earl Wilcox sold 30,499 shares of the business'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 sale, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 11.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock worth $1,245,713 over the last 90 days. 2.21% of the stock is owned by company insiders.

Pacific Premier Bancorp Trading Down 0.2 %

PPBI stock opened at $27.61 on Thursday. The firm's 50-day moving average price is $25.86 and its two-hundred day moving average price is $24.48. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly 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 company had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the prior year, the company earned $0.48 EPS. As a group, analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp's dividend payout ratio is currently -879.94%.

Pacific Premier Bancorp 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.