Victory Capital Management Inc. Has $36.38 Million Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Victory Capital Management Inc. cut its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 7.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,445,846 shares of the financial services provider's stock after selling 120,497 shares during the quarter. Victory Capital Management Inc. owned 1.50% of Pacific Premier Bancorp worth $36,377,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider's stock valued at $129,645,000 after purchasing an additional 238,854 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Pacific Premier Bancorp by 6.1% during the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider's stock worth $97,695,000 after buying an additional 242,721 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pacific Premier Bancorp by 1.4% during the second 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 buying an additional 16,038 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider's stock valued at $16,214,000 after acquiring an additional 245,771 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Pacific Premier Bancorp by 38.8% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider's stock valued at $13,250,000 after acquiring an additional 161,348 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Insider Activity

In other news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction on 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 owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 11.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm's stock in a transaction on 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 sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock valued at $1,245,713 in the last ninety days. 2.21% of the stock is owned by company insiders.

Pacific Premier Bancorp Stock Up 0.3 %

Shares of Pacific Premier Bancorp stock traded up $0.09 during midday trading on Friday, reaching $27.75. The company had a trading volume of 599,621 shares, compared to its average volume of 578,986. The stock has a fifty day moving average price of $25.62 and a 200 day moving average price of $24.37. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the business earned $0.48 EPS. On average, sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently -879.94%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PPBI shares. Stephens upped their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Thursday, July 25th. Wedbush reduced 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. Finally, Raymond James raised their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Pacific Premier Bancorp has a consensus rating of "Hold" and an average target price of $26.50.

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.