Rockefeller Capital Management L.P. Sells 998 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Rockefeller Capital Management L.P. reduced its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,605 shares of the financial services provider’s stock after selling 998 shares during the period. Rockefeller Capital Management L.P.’s holdings in Pacific Premier Bancorp were worth $367,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PPBI. Natixis Advisors LLC grew its position in shares of Pacific Premier Bancorp by 1.0% during the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock valued at $1,124,000 after purchasing an additional 449 shares in the last quarter. Arizona State Retirement System grew its holdings in Pacific Premier Bancorp by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock valued at $616,000 after buying an additional 482 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Pacific Premier Bancorp by 0.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock worth $1,742,000 after acquiring an additional 631 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 121.5% during the 3rd 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. Finally, FMR LLC boosted its position in shares of Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analysts Set New Price Targets

Separately, Wedbush reduced their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Pacific Premier Bancorp currently has a consensus rating of “Hold” and an average price target of $26.50.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp 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 sale, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.21% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $27.56 on Wednesday. The business’s 50 day moving average price is $26.81 and its 200-day moving average price is $24.98. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The company has a market cap of $2.66 billion, a P/E ratio of -183.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the previous year, the business earned $0.48 EPS. Sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

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

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.