Michael S. Karr Sells 10,290 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Pacific Premier Bancorp Price Performance

PPBI opened at $25.07 on Friday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -167.12 and a beta of 1.24. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The company’s 50-day moving average price is $27.10 and its 200 day moving average price is $25.17. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly 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 analyst estimates of $153.23 million. During the same quarter last year, the firm earned $0.48 EPS. As a group, sell-side analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

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. This represents a $1.32 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -880.00%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of PPBI. Azora Capital LP acquired a new position in Pacific Premier Bancorp during the 3rd quarter valued at about $12,187,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Pacific Premier Bancorp by 13.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after buying an additional 321,716 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Pacific Premier Bancorp by 61.6% during the third quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after buying an additional 245,771 shares during the period. American Century Companies Inc. grew its holdings in Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after buying an additional 242,721 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Pacific Premier Bancorp by 4.4% in the 2nd 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 period. Institutional investors and hedge funds own 93.11% of the company’s stock.

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.