Intech Investment Management LLC Acquires Shares of 18,270 Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Intech Investment Management LLC bought a new position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,270 shares of the financial services provider’s stock, valued at approximately $420,000.

A number of other institutional investors also recently modified their holdings of PPBI. Norges Bank purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter worth $34,788,000. William Blair Investment Management LLC increased its position in Pacific Premier Bancorp by 56.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock worth $31,891,000 after purchasing an additional 477,167 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the 1st quarter worth about $7,812,000. Eagle Asset Management Inc. lifted its holdings in shares of Pacific Premier Bancorp by 1,724.3% during the 4th quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock valued at $8,517,000 after buying an additional 276,538 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after buying an additional 242,721 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Buying and Selling

In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the sale, the director now directly owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the sale, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. The disclosure for this sale can be found here. 2.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on PPBI. Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wedbush reduced their price objective on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Stephens increased 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 report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.83.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $24.88 on Friday. The firm has a market capitalization of $2.40 billion, a PE ratio of 191.38 and a beta of 1.23. Pacific Premier Bancorp, Inc. has a 1 year low of $17.86 and a 1 year high of $30.13. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $25.14 and its 200 day simple moving average is $23.51.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $154.62 million during the quarter, compared to the consensus estimate of $162.23 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was down 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were paid a $0.33 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.31%. Pacific Premier Bancorp’s payout ratio is 1,015.38%.

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.