EP Wealth Advisors LLC Acquires Shares of 29,046 Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

EP Wealth Advisors LLC acquired a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 29,046 shares of the financial services provider’s stock, valued at approximately $667,000.

Several other large investors have also recently added to or reduced their stakes in the stock. US Bancorp DE increased its stake in shares of Pacific Premier Bancorp by 53.7% during the 4th quarter. US Bancorp DE now owns 24,574 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 8,584 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of Pacific Premier Bancorp by 62.3% during the 4th quarter. Rafferty Asset Management LLC now owns 115,734 shares of the financial services provider’s stock worth $3,369,000 after purchasing an additional 44,437 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Pacific Premier Bancorp by 17.9% during the 4th quarter. First Trust Advisors LP now owns 1,046,396 shares of the financial services provider’s stock worth $30,461,000 after purchasing an additional 158,996 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of 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 during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Pacific Premier Bancorp by 16.3% during the 4th quarter. Wellington Management Group LLP now owns 320,186 shares of the financial services provider’s stock worth $9,321,000 after purchasing an additional 44,919 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $23.81 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp, Inc. has a 1 year low of $17.86 and a 1 year high of $30.13. The firm’s fifty day simple moving average is $25.00 and its 200 day simple moving average is $23.54. The firm has a market capitalization of $2.30 billion, a PE ratio of 183.15 and a beta of 1.23.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $154.62 million during the quarter, compared to the consensus estimate of $162.23 million. During the same period last year, the company earned $0.60 earnings per share. Pacific Premier Bancorp’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, August 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.38%.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction 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 completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction 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 completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. Also, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company’s stock, 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

Several brokerages have recently commented on PPBI. Raymond James increased their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wedbush dropped their price target on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Stephens raised their target price on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 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. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average target price of $26.83.

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.