Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 586,333 shares of the financial services provider’s stock after acquiring an additional 6,608 shares during the period. Wellington Management Group LLP’s holdings in Pacific Premier Bancorp were worth $14,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Azora Capital LP purchased a new position in Pacific Premier Bancorp in the third quarter valued at $12,187,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Pacific Premier Bancorp by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after buying an additional 321,716 shares during the period. Assenagon Asset Management S.A. grew its position in shares of 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 stake in shares of Pacific Premier Bancorp by 6.1% during the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after buying an additional 242,721 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Pacific Premier Bancorp by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after acquiring an additional 238,854 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush lowered their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.50.

Pacific Premier Bancorp Price Performance

PPBI stock opened at $27.30 on Friday. The business has a 50 day moving average price of $27.00 and a 200 day moving average price of $25.08. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -181.99 and a beta of 1.24. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data 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 firm had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same period in the previous year, the company earned $0.48 EPS. Equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -879.94%.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.21% of the company’s stock.

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.