Intech Investment Management LLC Acquires 14,196 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Intech Investment Management LLC increased its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 77.7% during the third quarter, Holdings Channel.com reports. The firm owned 32,466 shares of the financial services provider’s stock after purchasing an additional 14,196 shares during the quarter. Intech Investment Management LLC’s holdings in Pacific Premier Bancorp were worth $817,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in Pacific Premier Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after acquiring an additional 238,854 shares during the period. Renaissance Technologies LLC increased its stake in shares of Pacific Premier Bancorp by 53.3% in the second quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock worth $5,114,000 after purchasing an additional 77,400 shares in the last quarter. SG Americas Securities LLC raised 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 during the period. Linden Thomas Advisory Services LLC lifted its stake in shares of Pacific Premier Bancorp by 1.6% during 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 buying an additional 858 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after buying an additional 242,721 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Price Performance

PPBI opened at $28.73 on Friday. The firm has a market capitalization of $2.77 billion, a PE ratio of -191.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50-day moving average is $26.29 and its two-hundred day moving average is $24.67. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its 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 company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter last year, the business posted $0.48 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio is presently -879.94%.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the sale, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Edward Earl Wilcox sold 30,499 shares of the 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 transaction, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. This represents a 11.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock worth $1,245,713 over the last three months. 2.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush lowered 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 research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Company 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.