Quest Partners LLC Decreases Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Quest Partners LLC lessened its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 52.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,864 shares of the financial services provider’s stock after selling 50,526 shares during the quarter. Quest Partners LLC’s holdings in Pacific Premier Bancorp were worth $1,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Edgestream Partners L.P. purchased a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at approximately $766,000. Dimensional Fund Advisors LP boosted its stake in shares of Pacific Premier Bancorp by 4.4% during 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 during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Pacific Premier Bancorp by 53.3% during the 2nd quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock valued at $5,114,000 after buying an additional 77,400 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Pacific Premier Bancorp by 215.7% during the 2nd quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock valued at $837,000 after buying an additional 24,893 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its stake in Pacific Premier Bancorp by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after purchasing an additional 858 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analyst Ratings Changes

PPBI has been the topic of several research analyst reports. Wedbush reduced their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Stephens raised their price objective 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. Finally, Raymond James raised 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.50.

Insider Activity

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was 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 of the company’s stock, valued at approximately $5,448,888.96. This trade represents a 11.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,023 shares of company stock valued at $1,245,713. Company insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI opened at $27.61 on Thursday. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.13. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The business’s fifty day moving average price is $25.86 and its two-hundred day moving average price is $24.48. The firm has a market capitalization of $2.66 billion, a PE ratio of -184.05 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. On average, research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -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.