Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Sells $276,492.30 in Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Michael S. Karr sold 10,290 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. The trade was a 11.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Pacific Premier Bancorp Trading Down 0.6 %

NASDAQ:PPBI traded down $0.14 on Thursday, reaching $24.78. The company’s stock had a trading volume of 144,028 shares, compared to its average volume of 539,766. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The business’s 50-day moving average price is $27.11 and its two-hundred day moving average price is $25.17. The firm has a market cap of $2.39 billion, a PE ratio of -165.19 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results 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 business had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the prior year, the business earned $0.48 EPS. Equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is presently -880.00%.

Institutional Trading of Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System grew its holdings in shares of Pacific Premier Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock worth $1,114,000 after buying an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Pacific Premier Bancorp by 1.4% in the second 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 purchasing an additional 16,038 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Pacific Premier Bancorp by 6.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,924 shares of the financial services provider’s stock worth $527,000 after purchasing an additional 1,363 shares in the last quarter. Innealta Capital LLC acquired a new position in Pacific Premier Bancorp during the second quarter worth $95,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Pacific Premier Bancorp by 38.8% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock valued at $13,250,000 after purchasing an additional 161,348 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush decreased their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.