US Bancorp DE Cuts Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

US Bancorp DE trimmed its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,469 shares of the financial services provider’s stock after selling 2,252 shares during the period. US Bancorp DE’s holdings in Pacific Premier Bancorp were worth $490,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PPBI. GAMMA Investing LLC raised its stake in shares of 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 in the last quarter. nVerses Capital LLC raised its stake in shares of Pacific Premier Bancorp by 93.8% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after buying an additional 1,500 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Pacific Premier Bancorp during the 2nd quarter worth approximately $95,000. Point72 DIFC Ltd increased its stake in Pacific Premier Bancorp by 202.9% in the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock valued at $183,000 after purchasing an additional 5,336 shares in the last quarter. Finally, Profund Advisors LLC purchased a new position in Pacific Premier Bancorp in the 2nd quarter valued at approximately $225,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the sale, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction dated 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 sale, the director now owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s 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 sale, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock worth $1,245,713 over the last quarter. 2.21% of the stock is currently owned by insiders.

Pacific Premier Bancorp Stock Performance

Pacific Premier Bancorp stock opened at $28.66 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average of $25.35 and a two-hundred day moving average of $24.22. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -191.05 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a fifty-two week low of $19.32 and a fifty-two week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business 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, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -879.94%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PPBI. Stephens raised their price objective on 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. Wedbush dropped 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. Finally, Raymond James raised their price objective on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note 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 company’s stock. According to data from MarketBeat, the stock 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.