2,400 Shares in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the third quarter, HoldingsChannel reports. The firm acquired 2,400 shares of the financial services provider’s stock, valued at approximately $60,000.

Several other hedge funds also recently bought and sold shares of PPBI. Natixis Advisors LLC lifted its position in shares of Pacific Premier Bancorp by 1.0% during the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock worth $1,124,000 after purchasing an additional 449 shares during the last quarter. Arizona State Retirement System increased its stake in 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 period. Cubist Systematic Strategies LLC lifted its holdings in Pacific Premier Bancorp by 0.8% during the 2nd 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 in the last quarter. GAMMA Investing LLC boosted its position in Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after buying an additional 649 shares during the period. Finally, FMR LLC grew its stake in Pacific Premier Bancorp by 11.9% in the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 723 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $27.30 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50 day moving average price of $27.00 and a 200-day moving average price of $25.06. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The stock has a market capitalization of $2.63 billion, a PE ratio of -181.99 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business 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 company posted $0.48 EPS. Equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share 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. Shareholders of record on Monday, November 4th were paid a $0.33 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 4.84%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction that occurred 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 approximately $712,281. This represents a 26.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wedbush decreased their price target on shares of 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 equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.50.

Pacific Premier Bancorp Company 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.