Edgestream Partners L.P. Boosts Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Edgestream Partners L.P. lifted its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,755 shares of the financial services provider’s stock after purchasing an additional 7,701 shares during the quarter. Edgestream Partners L.P. owned about 0.11% of Pacific Premier Bancorp worth $2,560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in Pacific Premier Bancorp by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after purchasing an additional 321,716 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Pacific Premier Bancorp by 61.6% in the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after buying an additional 245,771 shares in the last quarter. American Century Companies Inc. raised its position in shares of Pacific Premier Bancorp by 6.1% in the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after acquiring an additional 242,721 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Pacific Premier Bancorp by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after acquiring an additional 238,854 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Pacific Premier Bancorp by 38.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock valued at $13,250,000 after acquiring an additional 161,348 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Buying and Selling

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the sale, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 11.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at $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 90 days, insiders have sold 51,023 shares of company stock worth $1,245,713. 2.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Stock Down 1.0 %

Shares of PPBI opened at $28.11 on Tuesday. The stock has a 50 day moving average price of $26.41 and a 200 day moving average price of $24.76. 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 stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of -187.39 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.28.

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

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a dividend yield of 4.70%. Pacific Premier Bancorp’s dividend payout ratio is presently -879.94%.

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.