Emerald Advisers LLC Decreases Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Emerald Advisers LLC lessened its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 46.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,200 shares of the financial services provider’s stock after selling 1,040 shares during the period. Emerald Advisers LLC’s holdings in Pacific Premier Bancorp were worth $30,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in 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 acquiring an additional 238,854 shares during the period. American Century Companies Inc. raised its position in shares of Pacific Premier Bancorp by 6.1% in the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after purchasing an additional 242,721 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Pacific Premier Bancorp by 8.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock valued at $35,979,000 after buying an additional 122,285 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Pacific Premier Bancorp by 56.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after buying an additional 477,167 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Pacific Premier Bancorp by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock valued at $27,650,000 after buying an additional 16,038 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $25.49 on Monday. The business has a 50-day simple moving average of $25.17 and a 200 day simple moving average of $23.99. Pacific Premier Bancorp, Inc. has a 52 week low of $19.32 and a 52 week high of $30.13. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -169.92 and a beta of 1.21. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data 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 firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period last year, the firm earned $0.48 earnings per share. On average, research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.59 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -879.94%.

Insider Activity

In related news, COO Edward Earl Wilcox sold 30,499 shares of the company’s 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction that occurred on 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 owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $265,748.62. Following the transaction, the director now owns 123,794 shares in the company, valued at $2,924,014.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

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