Commerce Bank Sells 524 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Commerce Bank cut its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,821 shares of the financial services provider’s stock after selling 524 shares during the period. Commerce Bank’s holdings in Pacific Premier Bancorp were worth $373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Natixis Advisors LLC grew its stake in Pacific Premier Bancorp by 1.0% in the 3rd quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock valued at $1,124,000 after purchasing an additional 449 shares during the period. Arizona State Retirement System boosted its holdings in shares of Pacific Premier Bancorp by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock worth $616,000 after buying an additional 482 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Pacific Premier Bancorp by 0.8% during 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 period. GAMMA Investing LLC increased its holdings in Pacific Premier Bancorp by 121.5% during the third 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. Finally, KBC Group NV raised its position in Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 849 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI opened at $28.86 on Wednesday. The company has a market cap of $2.78 billion, a PE ratio of -192.40 and a beta of 1.21. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm’s 50-day simple moving average is $26.14 and its two-hundred day simple moving average is $24.60. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data 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 company had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same period in the previous year, the business posted $0.48 earnings per share. Research analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is currently -880.00%.

Insider Activity

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp 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 owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The trade was a 11.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction dated Thursday, November 7th. The stock was 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 directly owns 25,475 shares in the company, valued at approximately $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wedbush reduced their target price on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Pacific Premier Bancorp presently 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.