Hennion & Walsh Asset Management Inc. Reduces Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Hennion & Walsh Asset Management Inc. reduced its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 8.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 9,675 shares of the financial services provider’s stock after selling 881 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Pacific Premier Bancorp were worth $243,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in Pacific Premier Bancorp by 1.8% in the second quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock valued at $616,000 after acquiring an additional 482 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Pacific Premier Bancorp by 0.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock worth $1,742,000 after purchasing an additional 631 shares during the period. GAMMA Investing LLC boosted its stake in shares of Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 649 shares in the last quarter. Linden Thomas Advisory Services LLC boosted 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 purchasing an additional 858 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Pacific Premier Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,000 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pacific Premier Bancorp

In related news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the firm’s 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 in the company, valued at approximately $2,924,014.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Stock Down 0.6 %

PPBI stock opened at $26.04 on Wednesday. The business has a 50 day moving average of $25.14 and a 200 day moving average of $23.92. The firm has a market cap of $2.51 billion, a PE ratio of 200.31 and a beta of 1.22. Pacific Premier Bancorp, Inc. has a twelve month low of $18.60 and a twelve month high of $30.13. 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 Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.64 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be issued a $0.33 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 5.07%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.38%.

Analyst Ratings Changes

Several analysts have weighed in on PPBI shares. Wedbush cut their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Raymond James raised their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Stephens upped their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. One investment 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’s stock. Based on data from MarketBeat, Pacific Premier Bancorp has an average rating of “Hold” and an average 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.