Quantbot Technologies LP Acquires 43,224 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Quantbot Technologies LP grew its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 118.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 79,588 shares of the financial services provider’s stock after acquiring an additional 43,224 shares during the period. Quantbot Technologies LP’s holdings in Pacific Premier Bancorp were worth $2,002,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in Pacific Premier Bancorp by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after purchasing an additional 321,716 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Pacific Premier Bancorp by 61.6% during 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. American Century Companies Inc. raised its stake in shares of Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after acquiring an additional 242,721 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $129,645,000 after purchasing an additional 238,854 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Pacific Premier Bancorp by 38.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock worth $13,250,000 after purchasing an additional 161,348 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Down 0.5 %

PPBI opened at $28.73 on Friday. The business has a 50 day moving average of $26.29 and a 200-day moving average of $24.67. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -191.52 and a beta of 1.21. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period in the previous year, the business posted $0.48 earnings per share. As a group, 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 company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

Wall Street Analysts Forecast Growth

Separately, Wedbush dropped their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Insider Buying and Selling

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

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.