Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) COO Edward Earl Wilcox Sells 30,499 Shares

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the transaction, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Pacific Premier Bancorp Stock Up 0.3 %

Shares of NASDAQ PPBI opened at $23.44 on Friday. The company has a market capitalization of $2.26 billion, a P/E ratio of 180.31 and a beta of 1.23. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The company has a 50 day simple moving average of $25.12 and a 200-day simple moving average of $23.38. Pacific Premier Bancorp, Inc. has a 1 year low of $17.86 and a 1 year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $154.62 million for the quarter, compared to analyst estimates of $162.23 million. During the same period last year, the business earned $0.60 EPS. Pacific Premier Bancorp’s revenue was down 9.5% compared to the same quarter last year. On average, equities research analysts predict that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were issued a $0.33 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.32 annualized dividend and a yield of 5.63%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 1,015.38%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PPBI. Truist Financial Corp lifted its holdings in shares of Pacific Premier Bancorp by 5.8% in the 4th quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock worth $985,000 after acquiring an additional 1,842 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pacific Premier Bancorp by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,103,654 shares of the financial services provider’s stock worth $32,127,000 after buying an additional 63,384 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Pacific Premier Bancorp by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock valued at $147,527,000 after buying an additional 131,448 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pacific Premier Bancorp by 9.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock valued at $72,381,000 after buying an additional 207,901 shares in the last quarter. Finally, Inceptionr LLC purchased a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at $293,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PPBI shares. Wedbush raised their price target on shares of Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Stephens raised their target price on shares of 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. Raymond James upped their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. One research 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 MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.50.

About Pacific Premier Bancorp

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.