Wellington Management Group LLP Boosts Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Wellington Management Group LLP boosted its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 586,333 shares of the financial services provider’s stock after acquiring an additional 6,608 shares during the period. Wellington Management Group LLP owned 0.61% of Pacific Premier Bancorp worth $14,752,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Algert Global LLC grew its position in shares of Pacific Premier Bancorp by 22.0% in the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock valued at $5,903,000 after purchasing an additional 42,357 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after buying an additional 238,854 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Pacific Premier Bancorp by 53.3% in the 2nd quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock valued at $5,114,000 after buying an additional 77,400 shares in the last quarter. Azora Capital LP purchased a new stake in Pacific Premier Bancorp in the 3rd quarter valued at $12,187,000. Finally, SG Americas Securities LLC increased its stake in shares of Pacific Premier Bancorp by 215.7% in the 2nd quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 24,893 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Buying and Selling

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 25,475 shares in the company, valued at $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.21% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI opened at $27.30 on Friday. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28. The stock’s fifty day moving average is $27.00 and its two-hundred day moving average is $25.08. The company has a market capitalization of $2.63 billion, a P/E ratio of -181.99 and a beta of 1.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data 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 company had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same quarter in the prior year, the business posted $0.48 EPS. Equities analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed 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 was Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.84%. Pacific Premier Bancorp’s dividend payout ratio is currently -879.94%.

Wall Street Analyst Weigh In

Separately, Wedbush lowered 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 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 company’s stock. According to MarketBeat, the company currently has an average 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.