Point72 Asset Management L.P. Buys New Shares in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Point72 Asset Management L.P. purchased a new position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,400 shares of the financial services provider’s stock, valued at approximately $60,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 649 shares in the last quarter. nVerses Capital LLC raised its position in shares of Pacific Premier Bancorp by 93.8% during 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 last quarter. KBC Group NV lifted its holdings in shares of 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 buying an additional 849 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Pacific Premier Bancorp in the second quarter worth $95,000. Finally, FMR LLC grew its stake in Pacific Premier Bancorp by 11.9% during the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush decreased their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp has an average rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $27.30 on Friday. Pacific Premier Bancorp, Inc. has a 52-week low of $20.52 and a 52-week high of $30.28. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -181.99 and a beta of 1.24. The firm’s fifty day moving average is $27.00 and its 200 day moving average is $25.06. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period last year, the firm posted $0.48 earnings per share. Sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio is currently -879.94%.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.21% of the stock is currently owned by insiders.

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.