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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,600,000 shares, a decline of 21.6% from the October 15th total of 2,040,000 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 544,200 shares, the days-to-cover ratio is currently 2.9 days.

Insider Activity at Pacific Premier Bancorp

In related news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction dated 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 directly owns 25,475 shares of the company’s stock, valued at approximately $712,281. This trade represents a 26.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,023 shares of company stock worth $1,245,713 over the last ninety days. 2.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Pacific Premier Bancorp by 77.3% during the 1st quarter. BNP Paribas Financial Markets now owns 47,301 shares of the financial services provider’s stock valued at $1,135,000 after buying an additional 20,619 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Pacific Premier Bancorp in the first quarter worth $766,000. Dimensional Fund Advisors LP increased its position in Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after acquiring an additional 238,854 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Pacific Premier Bancorp by 53.3% in the second quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider’s stock valued at $5,114,000 after acquiring an additional 77,400 shares during the period. Finally, SG Americas Securities LLC boosted its position in Pacific Premier Bancorp by 215.7% in the second quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock worth $837,000 after purchasing an additional 24,893 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PPBI shares. Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stephens increased their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Finally, Wedbush lowered their price target on 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 given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Pacific Premier Bancorp Stock Up 0.3 %

Pacific Premier Bancorp stock opened at $27.75 on Friday. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.13. The stock has a fifty day simple moving average of $25.62 and a two-hundred day simple moving average of $24.37. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -185.00 and a beta of 1.21.

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 during the quarter, compared to the consensus estimate of $153.23 million. During the same period last year, the firm earned $0.48 EPS. Equities analysts predict that Pacific Premier Bancorp will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were given a dividend of $0.33 per share. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.76%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

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.