Insider Selling: Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Sells 10,290 Shares of Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Michael S. Karr sold 10,290 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now directly owns 79,474 shares in the company, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Pacific Premier Bancorp Stock Performance

Shares of PPBI traded down $0.14 during trading hours on Thursday, hitting $24.78. The company had a trading volume of 144,028 shares, compared to its average volume of 539,766. The business has a fifty day moving average of $27.11 and a 200-day moving average of $25.17. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -165.19 and a beta of 1.24. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28.

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 company had revenue of $224.49 million during 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. Equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS 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 $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.33%. Pacific Premier Bancorp’s payout ratio is presently -880.00%.

Wall Street Analyst Weigh In

Separately, Wedbush lowered their target price on shares of 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.50.

Institutional Trading of Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Algert Global LLC increased its holdings in shares of Pacific Premier Bancorp by 22.0% during the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock worth $5,903,000 after purchasing an additional 42,357 shares during the period. Dimensional Fund Advisors LP grew its position in Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after buying an additional 238,854 shares in the last quarter. Renaissance Technologies LLC grew its position in Pacific Premier Bancorp by 53.3% during the second quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock worth $5,114,000 after buying an additional 77,400 shares in the last quarter. Azora Capital LP bought a new position in Pacific Premier Bancorp during the 3rd quarter worth $12,187,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Pacific Premier Bancorp by 11.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 641,256 shares of the financial services provider’s stock valued at $16,134,000 after acquiring an additional 64,429 shares in the last quarter. Institutional investors and hedge funds own 93.11% 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.