Assenagon Asset Management S.A. Increases Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Assenagon Asset Management S.A. raised its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 751,987 shares of the financial services provider’s stock after acquiring an additional 107,544 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.78% of Pacific Premier Bancorp worth $18,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PPBI. Azora Capital LP acquired a new position in shares of Pacific Premier Bancorp in the third quarter valued at approximately $12,187,000. Massachusetts Financial Services Co. MA boosted its position in 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. 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 period. Phocas Financial Corp. raised its stake in shares of Pacific Premier Bancorp by 65.8% in the third quarter. Phocas Financial Corp. now owns 279,443 shares of the financial services provider’s stock valued at $7,031,000 after acquiring an additional 110,885 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Pacific Premier Bancorp by 71.4% in the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after purchasing an additional 84,859 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush cut their price target 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. 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.50.

Insider Transactions at Pacific Premier Bancorp

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

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $24.58 on Friday. The stock has a market cap of $2.37 billion, a P/E ratio of -163.86 and a beta of 1.26. The company has a fifty day simple moving average of $26.38 and a 200-day simple moving average of $25.62. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $153.23 million. During the same period in the prior year, the company posted $0.48 earnings per share. Equities analysts expect that Pacific Premier Bancorp, Inc. will post 1.59 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business 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. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 5.37%. Pacific Premier Bancorp’s payout ratio is currently -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.