Phocas Financial Corp. Has $7.03 Million Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Phocas Financial Corp. raised its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 65.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 279,443 shares of the financial services provider’s stock after purchasing an additional 110,885 shares during the period. Phocas Financial Corp.’s holdings in Pacific Premier Bancorp were worth $7,031,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kennedy Capital Management LLC acquired a new stake in Pacific Premier Bancorp during the first quarter worth approximately $7,812,000. Assenagon Asset Management S.A. increased its stake in shares of Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after acquiring an additional 245,771 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Pacific Premier Bancorp by 6.1% during the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after acquiring an additional 242,721 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 worth $129,645,000 after acquiring an additional 238,854 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Pacific Premier Bancorp by 38.8% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock worth $13,250,000 after acquiring an additional 161,348 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeff C. Jones sold 11,251 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the sale, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock worth $1,245,713 in the last quarter. Insiders own 2.21% of the company’s stock.

Analyst Ratings Changes

PPBI has been the topic of several research reports. Stephens upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Raymond James upped their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Wedbush reduced their price objective on 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 assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of “Hold” and an average price target of $26.50.

Pacific Premier Bancorp Trading Down 0.5 %

Shares of NASDAQ PPBI opened at $27.62 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm’s 50-day simple moving average is $25.70 and its 200 day simple moving average is $24.42. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.13.

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 firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the previous year, the company earned $0.48 EPS. As a group, research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -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.