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

Tidal Investments LLC decreased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,592 shares of the financial services provider’s stock after selling 432 shares during the period. Tidal Investments LLC’s holdings in Pacific Premier Bancorp were worth $669,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after acquiring an additional 238,854 shares during the last quarter. American Century Companies Inc. increased its holdings in Pacific Premier Bancorp by 6.1% during the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after purchasing an additional 242,721 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Pacific Premier Bancorp by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after purchasing an additional 321,716 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pacific Premier Bancorp by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock valued at $57,960,000 after purchasing an additional 25,964 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Pacific Premier Bancorp by 8.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock valued at $35,979,000 after buying an additional 122,285 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush dropped 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 research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Pacific Premier Bancorp has a consensus rating of “Hold” and a consensus price target of $26.50.

Insiders Place Their Bets

In related news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. The trade was a 26.69 % 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 corporate insiders.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI opened at $25.07 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. 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 twelve month low of $20.52 and a twelve month high of $30.28. The business has a 50 day simple moving average of $27.08 and a 200-day simple moving average of $25.19.

Pacific Premier Bancorp (NASDAQ:PPBI) last released 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 for the quarter, compared to analysts’ expectations of $153.23 million. During the same period last year, the firm posted $0.48 EPS. As a group, equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 5.27%. Pacific Premier Bancorp’s dividend payout ratio is currently -880.00%.

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.