HighTower Advisors LLC Grows Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

HighTower Advisors LLC increased its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,599 shares of the financial services provider’s stock after buying an additional 789 shares during the quarter. HighTower Advisors LLC’s holdings in Pacific Premier Bancorp were worth $468,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. 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 worth $30,000 after acquiring an additional 649 shares in the last quarter. nVerses Capital LLC lifted its holdings in Pacific Premier Bancorp by 93.8% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,500 shares in the last quarter. KBC Group NV boosted its position in Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 849 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Pacific Premier Bancorp during the 2nd quarter worth $95,000. Finally, FMR LLC increased its stake in Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 723 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wedbush decreased their target price on shares of 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Trading Up 2.0 %

NASDAQ PPBI opened at $25.07 on Friday. 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 company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -167.12 and a beta of 1.24. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28. The company’s fifty day moving average price is $27.10 and its two-hundred day moving average price is $25.17.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) 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 the consensus estimate of $153.23 million. During the same period last year, the business posted $0.48 earnings per share. As a group, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal 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 5.27%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

Insider Activity at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now owns 79,474 shares in the company, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at $712,281. This represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

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.