Massachusetts Financial Services Co. MA Boosts Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Massachusetts Financial Services Co. MA boosted its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 13.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,768,341 shares of the financial services provider’s stock after purchasing an additional 321,716 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.87% of Pacific Premier Bancorp worth $69,651,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 649 shares in the last quarter. nVerses Capital LLC increased its holdings in Pacific Premier Bancorp by 93.8% in 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. KBC Group NV raised its position in Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after buying an additional 849 shares during the last quarter. Innealta Capital LLC bought a new position in Pacific Premier Bancorp during the 2nd quarter valued at about $95,000. Finally, Point72 DIFC Ltd boosted its holdings in shares of Pacific Premier Bancorp by 202.9% during the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 5,336 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Up 2.9 %

PPBI opened at $28.73 on Monday. The firm’s 50 day simple moving average is $26.04 and its two-hundred day simple moving average is $24.56. The company has a market capitalization of $2.77 billion, a PE ratio of -191.52 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.13. 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 (NASDAQ:PPBI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.37 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 the consensus estimate of $153.23 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.59%. Pacific Premier Bancorp’s payout ratio is currently -879.94%.

Insider Activity at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at $712,281. This represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on 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 in the company, valued at $5,448,888.96. This trade represents a 11.68 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Wedbush lowered their price objective 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 assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.