Chartwell Investment Partners LLC Lowers Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Chartwell Investment Partners LLC lessened its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 9.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 310,627 shares of the financial services provider’s stock after selling 32,513 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Pacific Premier Bancorp were worth $7,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 649 shares during the period. nVerses Capital LLC grew its holdings in Pacific Premier Bancorp by 93.8% during the second 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 period. Innealta Capital LLC purchased a new position in Pacific Premier Bancorp in the second quarter worth $95,000. Point72 DIFC Ltd lifted its holdings in Pacific Premier Bancorp by 202.9% in the second quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 5,336 shares during the period. Finally, Profund Advisors LLC purchased a new stake in shares of Pacific Premier Bancorp during the 2nd quarter worth $225,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPBI has been the subject of a number of research analyst reports. Wedbush cut their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stephens increased their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Raymond James boosted their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus price target of $26.50.

Insider Buying and Selling

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was 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 directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by corporate insiders.

Pacific Premier Bancorp Stock Up 2.6 %

Shares of NASDAQ PPBI opened at $28.66 on Tuesday. The firm’s 50-day moving average is $25.35 and its two-hundred day moving average is $24.22. The company has a market capitalization of $2.76 billion, a PE ratio of -191.05 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 12-month low of $19.32 and a 12-month 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) last posted its 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 company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, November 4th. Pacific Premier Bancorp’s 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.