Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock Holdings Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 52,129 shares of the financial services provider’s stock after selling 1,702 shares during the period. The Manufacturers Life Insurance Company’s holdings in Pacific Premier Bancorp were worth $1,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of Pacific Premier Bancorp by 215.7% during the 2nd quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock valued at $837,000 after buying an additional 24,893 shares during the last quarter. AlphaMark Advisors LLC bought a new stake in shares of Pacific Premier Bancorp during the 2nd quarter valued at about $317,000. Louisiana State Employees Retirement System grew its position in shares of Pacific Premier Bancorp by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Pacific Premier Bancorp by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock valued at $27,650,000 after buying an additional 16,038 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pacific Premier Bancorp by 6.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,924 shares of the financial services provider’s stock valued at $527,000 after buying an additional 1,363 shares during the last quarter. Institutional investors own 93.11% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wedbush reduced their target price on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One equities 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, the company currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Trading Up 0.0 %

Shares of NASDAQ:PPBI opened at $27.56 on Wednesday. The company has a 50 day moving average of $26.81 and a 200-day moving average of $24.98. The firm has a market cap of $2.66 billion, a P/E ratio of -183.72 and a beta of 1.24. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same period in the previous year, the company posted $0.48 earnings per share. As a group, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.79%. Pacific Premier Bancorp’s dividend payout ratio is currently -879.94%.

Insider Activity

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’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 value of $259,273.08. Following the transaction, the executive vice president now owns 25,475 shares in the company, valued at approximately $712,281. This represents a 26.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.21% of the stock is owned by company insiders.

Pacific Premier Bancorp 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.