Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,253,161 shares of the financial services provider’s stock after buying an additional 242,721 shares during the quarter. American Century Companies Inc. owned 4.41% of Pacific Premier Bancorp worth $97,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Pacific Premier Bancorp by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after purchasing an additional 65,694 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Pacific Premier Bancorp by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock worth $147,527,000 after purchasing an additional 131,448 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Pacific Premier Bancorp by 9.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock worth $72,381,000 after purchasing an additional 207,901 shares in the last quarter. Victory Capital Management Inc. grew its stake in Pacific Premier Bancorp by 8.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock worth $35,979,000 after purchasing an additional 122,285 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Pacific Premier Bancorp by 6.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock worth $43,002,000 after purchasing an additional 86,564 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the sale, the director now owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction 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 directly owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PPBI. Stephens lifted their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Raymond James boosted their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Wedbush boosted their target price on Pacific Premier Bancorp from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a report on Friday, May 17th. 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 stock. According to data from MarketBeat.com, Pacific Premier Bancorp has a consensus rating of “Hold” and an average price target of $26.50.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $24.21 on Friday. The stock has a market capitalization of $2.33 billion, a PE ratio of 186.25 and a beta of 1.23. Pacific Premier Bancorp, Inc. has a 52-week low of $17.86 and a 52-week high of $30.13. The stock’s 50-day moving average price is $25.17 and its 200 day moving average price is $23.39. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $154.62 million for the quarter, compared to analyst estimates of $162.23 million. The business’s revenue for the quarter was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 1,015.46%.

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.