Commerce Bank Sells 524 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Commerce Bank cut its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,821 shares of the financial services provider’s stock after selling 524 shares during the period. Commerce Bank’s holdings in Pacific Premier Bancorp were worth $373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in Pacific Premier Bancorp by 4.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 112,161 shares of the financial services provider’s stock worth $2,689,000 after buying an additional 4,627 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Pacific Premier Bancorp by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock valued at $1,221,000 after purchasing an additional 858 shares during the period. SG Americas Securities LLC boosted its position in shares of Pacific Premier Bancorp by 215.7% during the 2nd quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 24,893 shares in the last quarter. AlphaMark Advisors LLC acquired a new stake in Pacific Premier Bancorp during the second quarter worth approximately $317,000. Finally, Louisiana State Employees Retirement System grew its stake in 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 purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush cut their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Stock Down 0.9 %

PPBI stock opened at $28.86 on Wednesday. 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, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The stock’s 50 day simple moving average is $26.14 and its 200 day simple moving average is $24.60. The company has a market cap of $2.78 billion, a P/E ratio of -192.40 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same period in the prior year, the firm posted $0.48 earnings per share. On average, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced 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. This represents a $1.32 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is presently -880.00%.

Insider Buying and Selling

In related news, COO Edward Earl Wilcox sold 30,499 shares of the company’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 completion of the sale, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 11.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, 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 51,023 shares of company stock worth $1,245,713 in the last quarter. Insiders own 2.21% of the company’s stock.

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.