Verition Fund Management LLC Has $1.50 Million Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Verition Fund Management LLC lifted its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 226.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,781 shares of the financial services provider's stock after acquiring an additional 41,491 shares during the quarter. Verition Fund Management LLC owned approximately 0.06% of Pacific Premier Bancorp worth $1,504,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC grew its stake in Pacific Premier Bancorp by 215.7% in the 2nd quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider's stock valued at $837,000 after buying an additional 24,893 shares during the last quarter. AlphaMark Advisors LLC acquired a new position in shares of Pacific Premier Bancorp in the second quarter valued at approximately $317,000. Louisiana State Employees Retirement System increased its stake in shares of Pacific Premier Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider's stock worth $1,114,000 after purchasing an additional 1,000 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 worth $27,650,000 after purchasing an additional 16,038 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Pacific Premier Bancorp by 6.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,924 shares of the financial services provider's stock valued at $527,000 after purchasing an additional 1,363 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI traded up $0.26 during mid-day trading on Friday, reaching $27.77. The company had a trading volume of 264,756 shares, compared to its average volume of 506,023. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -185.13 and a beta of 1.24. The business's 50-day simple moving average is $26.69 and its 200 day simple moving average is $24.89. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.28. 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 released its earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $224.49 million for the quarter, compared to analysts' expectations of $153.23 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were given a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 4.75%. Pacific Premier Bancorp's dividend payout ratio is currently -880.00%.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were 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 $2,924,014.28. This represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Edward Earl Wilcox sold 30,499 shares of the business's stock in a transaction on 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 approximately $5,448,888.96. The trade was a 11.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock worth $1,245,713 over the last three months. Corporate insiders own 2.21% of the company's stock.

Wall Street Analyst Weigh In

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

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.