The Manufacturers Life Insurance Company Has $1.24 Million Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

The Manufacturers Life Insurance Company lifted its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 5.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,831 shares of the financial services provider’s stock after purchasing an additional 2,908 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Pacific Premier Bancorp worth $1,236,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PPBI. Fidelis Capital Partners LLC acquired a new stake in shares of Pacific Premier Bancorp during the 1st quarter worth $27,000. nVerses Capital LLC grew its holdings in shares of Pacific Premier Bancorp by 93.8% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 1,500 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Pacific Premier Bancorp during the 2nd quarter worth $95,000. Point72 DIFC Ltd grew its holdings in shares of Pacific Premier Bancorp by 202.9% during the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 5,336 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Pacific Premier Bancorp during the 1st quarter worth $217,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $25.93 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.50 billion, a PE ratio of -648.09 and a beta of 1.22. Pacific Premier Bancorp, Inc. has a 12 month low of $17.86 and a 12 month high of $30.13. The stock has a 50-day moving average price of $24.72 and a two-hundred day moving average price of $23.63.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company had revenue of $154.62 million for the quarter, compared to the consensus estimate of $162.23 million. During the same quarter last year, the business earned $0.60 earnings per share. Pacific Premier Bancorp’s revenue was down 9.5% compared to the same quarter last year. Analysts expect that Pacific Premier Bancorp, Inc. will post 1.64 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were given 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 5.09%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -3,299.18%.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction that occurred on 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 directly owns 123,794 shares in the company, valued at approximately $2,924,014.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on PPBI shares. Stephens raised their price objective on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. Wedbush reduced their price objective on Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Raymond James raised their price objective on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.83.

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.