US Bancorp DE Decreases Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

US Bancorp DE decreased its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 10.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,469 shares of the financial services provider’s stock after selling 2,252 shares during the quarter. US Bancorp DE’s holdings in Pacific Premier Bancorp were worth $490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Pacific Premier Bancorp by 336.0% in the third quarter. Nisa Investment Advisors LLC now owns 19,294 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 14,869 shares in the last quarter. CWC Advisors LLC. acquired a new position in shares of Pacific Premier Bancorp in the third quarter worth about $235,000. Assenagon Asset Management S.A. lifted its stake in shares of Pacific Premier Bancorp by 61.6% in the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after acquiring an additional 245,771 shares in the last quarter. Creative Planning acquired a new position in shares of Pacific Premier Bancorp in the third quarter worth about $427,000. Finally, GAMMA Investing LLC lifted its stake in shares of Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 649 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Up 2.6 %

Shares of Pacific Premier Bancorp stock opened at $28.66 on Tuesday. 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 business’s 50 day simple moving average is $25.35 and its 200-day simple moving average is $24.22. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -191.05 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a twelve month low of $19.32 and a twelve month high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $0.48 EPS. Equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -879.94%.

Wall Street Analysts Forecast Growth

PPBI has been the topic of several recent analyst reports. Stephens boosted their price target on 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. Wedbush cut their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Finally, Raymond James upped their price objective on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Insider Transactions at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was 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 directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was 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 directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was 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 directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is currently owned by company insiders.

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.