Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the third quarter, HoldingsChannel.com reports. The fund purchased 53,000 shares of the financial services provider’s stock, valued at approximately $1,333,000.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC raised its holdings 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 buying an additional 649 shares during the period. nVerses Capital LLC boosted its holdings in shares of Pacific Premier Bancorp by 93.8% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after buying an additional 1,500 shares during the period. KBC Group NV increased its position in shares of Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 849 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Pacific Premier Bancorp during the second quarter worth $95,000. Finally, FMR LLC boosted its stake in Pacific Premier Bancorp by 11.9% in the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 723 shares during the period. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Down 1.1 %

Shares of PPBI stock opened at $28.40 on Monday. The firm’s fifty day moving average price is $26.41 and its two-hundred day moving average price is $24.75. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.74 billion, a P/E ratio of -189.32 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last released 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 analyst estimates of $153.23 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, equities analysts predict 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 was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is presently -879.94%.

Insider Activity at Pacific Premier Bancorp

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the sale, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,023 shares of company stock valued at $1,245,713. 2.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Wedbush cut 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.