SG Americas Securities LLC Lowers Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

SG Americas Securities LLC reduced its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 86.1% during the third quarter, Holdings Channel reports. The institutional investor owned 5,054 shares of the financial services provider’s stock after selling 31,382 shares during the period. SG Americas Securities LLC’s holdings in Pacific Premier Bancorp were worth $127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in shares of Pacific Premier Bancorp by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock valued at $616,000 after buying an additional 482 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Pacific Premier Bancorp by 0.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock valued at $1,742,000 after buying an additional 631 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in 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 purchasing an additional 858 shares during the period. Louisiana State Employees Retirement System raised its stake in Pacific Premier Bancorp by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock valued at $1,114,000 after purchasing an additional 1,000 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Pacific Premier Bancorp during the 1st quarter valued at approximately $27,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pacific Premier Bancorp

In related news, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the transaction, the director now owns 123,794 shares in the company, valued at $2,924,014.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Pacific Premier Bancorp 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 value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the company’s 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 sale, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PPBI has been the topic of several recent analyst reports. Stephens lifted their target price on 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. Wedbush decreased their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Raymond James lifted their price objective on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $25.09 on Friday. The company has a market cap of $2.42 billion, a P/E ratio of -627.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50 day moving average price is $25.09 and its 200-day moving average price is $23.84. Pacific Premier Bancorp, Inc. has a fifty-two week low of $18.60 and a fifty-two week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the firm posted $0.48 EPS. Sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.64 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Investors of record on Monday, November 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp’s payout ratio is currently -3,299.18%.

Pacific Premier Bancorp 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.