Commerce Bank Decreases Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Commerce Bank decreased its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,881 shares of the financial services provider’s stock after selling 1,199 shares during the quarter. Commerce Bank’s holdings in Pacific Premier Bancorp were worth $700,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC increased its position in shares of Pacific Premier Bancorp by 1.1% in the second quarter. Rafferty Asset Management LLC now owns 60,172 shares of the financial services provider’s stock valued at $2,545,000 after acquiring an additional 632 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Pacific Premier Bancorp by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 82,538 shares of the financial services provider’s stock valued at $3,492,000 after acquiring an additional 647 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Pacific Premier Bancorp in the second quarter valued at about $32,000. Swiss National Bank increased its position in shares of Pacific Premier Bancorp by 0.4% in the third quarter. Swiss National Bank now owns 188,257 shares of the financial services provider’s stock valued at $7,801,000 after acquiring an additional 800 shares during the period. Finally, Profund Advisors LLC increased its position in shares of Pacific Premier Bancorp by 9.9% in the second quarter. Profund Advisors LLC now owns 12,878 shares of the financial services provider’s stock valued at $545,000 after acquiring an additional 1,161 shares during the period. Hedge funds and other institutional investors own 91.69% of the company’s stock.

PPBI has been the topic of a number of research reports. Zacks Investment Research lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 8th. Raymond James lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $45.00 to $47.00 in a research note on Thursday, October 7th. They noted that the move was a valuation call.

In other news, Director Jeff C. Jones sold 6,248 shares of the company’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $43.75, for a total value of $273,350.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph L. Garrett sold 1,490 shares of the company’s stock in a transaction that occurred on Wednesday, October 27th. The stock was sold at an average price of $42.89, for a total transaction of $63,906.10. The disclosure for this sale can be found here. Insiders have sold 8,518 shares of company stock worth $371,654 in the last three months. 2.04% of the stock is currently owned by insiders.

Shares of PPBI opened at $44.27 on Friday. The firm’s 50-day moving average price is $40.91 and its 200-day moving average price is $40.54. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 13.06 and a beta of 1.28. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.17. Pacific Premier Bancorp, Inc. has a 1-year low of $32.70 and a 1-year high of $47.46.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Wednesday, October 20th. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.82 by $0.13. Pacific Premier Bancorp had a net margin of 40.06% and a return on equity of 11.61%. The business had revenue of $199.20 million for the quarter, compared to analyst estimates of $189.20 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. Pacific Premier Bancorp’s quarterly revenue was up 3.1% on a year-over-year basis. On average, research analysts forecast that Pacific Premier Bancorp, Inc. will post 3.48 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Monday, November 1st were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.98%. The ex-dividend date was Friday, October 29th. Pacific Premier Bancorp’s payout ratio is currently 38.94%.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc is a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment.

Further Reading: What is a SEC Filing?

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Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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