Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,303,222 shares of the financial services provider’s stock after purchasing an additional 25,964 shares during the period. Geode Capital Management LLC owned about 2.39% of Pacific Premier Bancorp worth $57,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in PPBI. Azora Capital LP acquired a new stake in Pacific Premier Bancorp in the third quarter valued at approximately $12,187,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Pacific Premier Bancorp by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after purchasing an additional 321,716 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after purchasing an additional 245,771 shares in the last quarter. American Century Companies Inc. lifted its position in shares of 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 worth $97,695,000 after purchasing an additional 242,721 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of 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 purchasing an additional 238,854 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction dated 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 in the company, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now directly owns 79,474 shares in the company, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $25.07 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. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The stock has a market cap of $2.42 billion, a PE ratio of -167.12 and a beta of 1.24. The firm has a fifty day moving average price of $27.08 and a 200 day moving average price of $25.22.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $0.48 earnings per share. As a group, sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company 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. This represents a $1.32 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is currently -880.00%.

Analysts Set New Price Targets

Separately, Wedbush decreased their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.50.

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.