Edgestream Partners L.P. Increases Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Edgestream Partners L.P. increased its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 194.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,054 shares of the financial services provider’s stock after buying an additional 62,136 shares during the quarter. Edgestream Partners L.P. owned about 0.10% of Pacific Premier Bancorp worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new position in shares of Pacific Premier Bancorp in the 1st quarter worth about $27,000. nVerses Capital LLC raised its holdings in Pacific Premier Bancorp by 93.8% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after buying an additional 1,500 shares during the period. Innealta Capital LLC purchased a new position in Pacific Premier Bancorp in the second quarter valued at approximately $95,000. Capstone Investment Advisors LLC acquired a new position in Pacific Premier Bancorp during the first quarter valued at approximately $217,000. Finally, FineMark National Bank & Trust purchased a new stake in Pacific Premier Bancorp during the fourth quarter worth approximately $234,000. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the sale, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were 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 in the company, valued at $2,924,014.28. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Price Performance

PPBI stock opened at $24.91 on Thursday. The stock’s 50 day moving average is $25.27 and its two-hundred day moving average is $23.41. Pacific Premier Bancorp, Inc. has a 52-week low of $17.86 and a 52-week high of $30.13. The company has a market capitalization of $2.40 billion, a PE ratio of 189.85 and a beta of 1.23. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18.

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 (EPS) for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. The company’s revenue was down 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 earnings per share. Analysts predict that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, August 5th were issued a dividend of $0.33 per share. The ex-dividend date was Monday, August 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.30%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.38%.

Analysts Set New Price Targets

PPBI has been the topic of several recent research reports. Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stephens raised their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Wedbush upped their price target on Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. 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. According to MarketBeat.com, Pacific Premier Bancorp currently has an average rating of “Hold” and an average 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.