Louisiana State Employees Retirement System Sells 1,900 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Louisiana State Employees Retirement System cut its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,600 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Pacific Premier Bancorp were worth $1,172,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PPBI. William Blair Investment Management LLC lifted its position in shares of Pacific Premier Bancorp by 56.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after acquiring an additional 477,167 shares during the period. Kennedy Capital Management LLC bought a new position in Pacific Premier Bancorp in the first quarter worth $7,812,000. Assenagon Asset Management S.A. boosted its stake in Pacific Premier Bancorp by 61.6% during the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after buying an additional 245,771 shares in the last quarter. American Century Companies Inc. increased its holdings in Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after buying an additional 242,721 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after buying an additional 238,854 shares in the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PPBI. Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wedbush decreased their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Stephens increased their target price 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. 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’s stock. According to MarketBeat, Pacific Premier Bancorp has an average rating of “Hold” and an average target price of $26.50.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated 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 owns 230,592 shares in the company, valued at approximately $5,448,888.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Edward Earl Wilcox sold 30,499 shares of the company’s stock in a transaction that occurred on 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 directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeff C. Jones sold 11,251 shares of the 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 sale, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. This trade 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 currently owned by company insiders.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI opened at $25.49 on Friday. The firm has a market cap of $2.46 billion, a PE ratio of -169.92 and a beta of 1.21. The company’s 50-day moving average price is $25.17 and its two-hundred day moving average price is $23.97. The company has a quick ratio of 0.89, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 12 month low of $19.32 and a 12 month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly 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 company had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same quarter in the previous year, the business posted $0.48 EPS. On average, equities analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.59 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.18%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

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.