State Street Corp Sells 180,439 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

State Street Corp lessened its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,914,676 shares of the financial services provider's stock after selling 180,439 shares during the quarter. State Street Corp owned approximately 5.10% of Pacific Premier Bancorp worth $123,653,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in Pacific Premier Bancorp by 121.5% during the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock worth $30,000 after buying an additional 649 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Pacific Premier Bancorp in the 3rd quarter valued at about $60,000. nVerses Capital LLC boosted its position 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 purchasing an additional 1,500 shares in the last quarter. KBC Group NV boosted its position 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 valued at $93,000 after purchasing an additional 849 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Pacific Premier Bancorp during the second quarter worth approximately $95,000. Institutional investors own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business's stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.21% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wedbush cut their price target 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Pacific Premier Bancorp currently has an average rating of "Hold" and an average price target of $26.50.

Pacific Premier Bancorp Stock Up 0.5 %

Pacific Premier Bancorp stock traded up $0.14 during mid-day trading on Friday, reaching $27.30. The stock had a trading volume of 542,668 shares, compared to its average volume of 540,219. The firm has a market capitalization of $2.63 billion, a PE ratio of -181.99 and a beta of 1.24. The stock's 50-day simple moving average is $27.00 and its 200-day simple moving average is $25.08. 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, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $153.23 million. During the same period last year, the firm posted $0.48 EPS. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.84%. Pacific Premier Bancorp's dividend payout ratio (DPR) is -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.