Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Short Interest Update

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,340,000 shares, a decline of 29.5% from the January 15th total of 1,900,000 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 538,900 shares, the short-interest ratio is currently 2.5 days.

Insider Activity

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the sale, the executive vice president now directly owns 79,474 shares in the company, valued at $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Pacific Premier Bancorp

Several large investors have recently made changes to their positions in the company. Algert Global LLC increased its holdings in Pacific Premier Bancorp by 22.0% in the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider’s stock valued at $5,903,000 after purchasing an additional 42,357 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Pacific Premier Bancorp by 5.7% in the third quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock valued at $3,787,000 after purchasing an additional 8,145 shares during the last quarter. Franklin Resources Inc. bought a new stake in Pacific Premier Bancorp in the third quarter valued at about $784,000. Azora Capital LP bought a new stake in Pacific Premier Bancorp in the third quarter valued at about $12,187,000. Finally, Barclays PLC increased its holdings in Pacific Premier Bancorp by 71.4% in the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock valued at $5,123,000 after purchasing an additional 84,859 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock traded down $0.02 on Friday, reaching $25.16. The company’s stock had a trading volume of 401,921 shares, compared to its average volume of 561,813. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 15.34 and a beta of 1.26. The business’s fifty day moving average price is $25.31 and its 200 day moving average price is $25.64. Pacific Premier Bancorp has a twelve month low of $20.52 and a twelve month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. Equities analysts expect that Pacific Premier Bancorp will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 80.49%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wedbush lowered their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. DA Davidson lowered their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. 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 stock. Based on data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $27.00.

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.