Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 28,365 shares of the financial services provider’s stock after selling 1,047 shares during the period. Amalgamated Bank’s holdings in Pacific Premier Bancorp were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in PPBI. GAMMA Investing LLC grew its stake in Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after buying an additional 649 shares during the last quarter. nVerses Capital LLC grew its stake in 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 buying an additional 1,500 shares during the last quarter. Innealta Capital LLC bought a new position in Pacific Premier Bancorp during the 2nd quarter worth $95,000. Point72 DIFC Ltd grew its stake in shares of Pacific Premier Bancorp by 202.9% in the second 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, Profund Advisors LLC bought a new position in shares of Pacific Premier Bancorp in the second quarter worth $225,000. 93.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PPBI. Raymond James increased their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stephens increased their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, 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 research note 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, Pacific Premier Bancorp presently has a consensus rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $27.75 on Friday. The business has a 50 day simple moving average of $25.62 and a 200 day simple moving average of $24.35. 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 one year low of $20.52 and a one year high of $30.13. The company has a market capitalization of $2.68 billion, a PE ratio of -184.99 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS 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 the consensus estimate of $153.23 million. During the same period in the prior year, the business earned $0.48 earnings per share. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.76%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 30,499 shares of the company’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 sale, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 11.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the sale, the executive vice president now owns 25,475 shares in the company, valued at $712,281. The trade was a 26.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,023 shares of company stock valued at $1,245,713. Company insiders own 2.21% of the company’s stock.

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.