Massachusetts Financial Services Co. MA Boosts Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Massachusetts Financial Services Co. MA grew its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,768,341 shares of the financial services provider’s stock after acquiring an additional 321,716 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Pacific Premier Bancorp were worth $69,651,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Pacific Premier Bancorp by 4.4% during 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 acquiring an additional 238,854 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Pacific Premier Bancorp by 53.3% during the second quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock valued at $5,114,000 after purchasing an additional 77,400 shares during the period. SG Americas Securities LLC boosted its stake in shares of Pacific Premier Bancorp by 215.7% during the second quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock valued at $837,000 after purchasing an additional 24,893 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in shares of Pacific Premier Bancorp by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after purchasing an additional 858 shares during the last quarter. Finally, 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 valued at $97,695,000 after buying an additional 242,721 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares in the company, valued at $712,281. The trade was a 26.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were 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 of the company’s stock, valued at $2,924,014.28. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,023 shares of company stock valued at $1,245,713. Corporate insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Stock Up 2.9 %

NASDAQ:PPBI opened at $28.73 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $2.77 billion, a PE ratio of -191.52 and a beta of 1.21. The company has a 50-day moving average of $26.04 and a 200 day moving average of $24.56. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.13.

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 analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the previous year, the company posted $0.48 EPS. As a group, research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.59%. Pacific Premier Bancorp’s dividend payout ratio is presently -879.94%.

Wall Street Analysts Forecast Growth

Separately, Wedbush dropped their target price on shares of 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Pacific Premier Bancorp presently has a consensus 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.