Jeff C. Jones Sells 11,251 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the sale, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Pacific Premier Bancorp Trading Down 2.0 %

Pacific Premier Bancorp stock opened at $23.38 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50-day moving average of $25.10 and a 200-day moving average of $23.38. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 179.85 and a beta of 1.23. Pacific Premier Bancorp, Inc. has a one year low of $17.86 and a one year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. The company had revenue of $154.62 million during the quarter, compared to the consensus estimate of $162.23 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm’s revenue for the quarter was down 9.5% compared to the same quarter last year. On average, equities analysts expect that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.32 dividend on an annualized basis and a yield of 5.65%. Pacific Premier Bancorp’s payout ratio is 1,015.38%.

Institutional Trading of Pacific Premier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPBI. EP Wealth Advisors LLC acquired a new position in shares of Pacific Premier Bancorp during the 2nd quarter worth about $667,000. Algert Global LLC grew its holdings in Pacific Premier Bancorp by 28.9% during the second quarter. Algert Global LLC now owns 192,259 shares of the financial services provider’s stock worth $4,416,000 after purchasing an additional 43,091 shares during the period. The Manufacturers Life Insurance Company increased its position in Pacific Premier Bancorp by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 53,831 shares of the financial services provider’s stock worth $1,236,000 after buying an additional 2,908 shares during the last quarter. Millennium Management LLC raised its stake in Pacific Premier Bancorp by 14.2% in the second quarter. Millennium Management LLC now owns 150,763 shares of the financial services provider’s stock valued at $3,463,000 after buying an additional 18,779 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Pacific Premier Bancorp by 0.8% in the second quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock valued at $1,742,000 after buying an additional 631 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wedbush boosted their price objective on Pacific Premier Bancorp from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Raymond James increased their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Stephens boosted their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.