New York State Teachers Retirement System Has $620,000 Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

New York State Teachers Retirement System trimmed its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 24,645 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. New York State Teachers Retirement System’s holdings in Pacific Premier Bancorp were worth $620,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in Pacific Premier Bancorp by 336.0% during the third quarter. Nisa Investment Advisors LLC now owns 19,294 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 14,869 shares during the last quarter. CWC Advisors LLC. acquired a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $235,000. Assenagon Asset Management S.A. raised its holdings in Pacific Premier Bancorp by 61.6% in 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 buying an additional 245,771 shares during the last quarter. Creative Planning acquired a new stake in Pacific Premier Bancorp during the 3rd quarter worth approximately $427,000. Finally, GAMMA Investing LLC grew 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 acquiring an additional 649 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Stephens raised their price target on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Raymond James lifted their target price 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, Wedbush decreased their price target 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 issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.50.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $27.94 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 1-year low of $19.32 and a 1-year high of $30.13. The firm’s fifty day moving average price is $25.29 and its two-hundred day moving average price is $24.17.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data 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 business had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same period in the previous year, the business earned $0.48 EPS. Research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Monday, November 4th. Pacific Premier Bancorp’s payout ratio is presently -879.94%.

Insider Buying and Selling at Pacific Premier Bancorp

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. In related news, COO Edward Earl Wilcox sold 30,499 shares of the 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 completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock valued at $1,245,713 in the last three months. Company insiders own 2.21% of the company’s stock.

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.