Thrivent Financial for Lutherans Has $1.84 Million Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Thrivent Financial for Lutherans decreased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 52.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,053 shares of the financial services provider’s stock after selling 88,272 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.08% of Pacific Premier Bancorp worth $1,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Pacific Premier Bancorp by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock worth $329,437,000 after purchasing an additional 65,694 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after purchasing an additional 238,854 shares during the last quarter. American Century Companies Inc. lifted 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 buying an additional 242,721 shares in the last quarter. Victory Capital Management Inc. boosted its position in Pacific Premier Bancorp by 8.5% in 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. Finally, Goldman Sachs Group Inc. increased its stake in shares of Pacific Premier Bancorp by 6.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,477,208 shares of the financial services provider’s stock valued at $43,002,000 after buying an additional 86,564 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stephens raised their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Raymond James raised 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. Finally, Wedbush lowered their price target on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $26.83.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI opened at $23.81 on Thursday. The firm’s 50 day simple moving average is $25.00 and its 200 day simple moving average is $23.54. Pacific Premier Bancorp, Inc. has a fifty-two week low of $17.86 and a fifty-two week high of $30.13. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 183.15 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.

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

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 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.