Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) COO Sells $720,691.37 in Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Pacific Premier Bancorp Stock Up 1.1 %

Shares of PPBI traded up $0.27 during mid-day trading on Tuesday, reaching $23.86. The company had a trading volume of 630,580 shares, compared to its average volume of 538,777. Pacific Premier Bancorp, Inc. has a 52 week low of $17.86 and a 52 week high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 181.48 and a beta of 1.23. The firm has a 50-day moving average price of $25.06 and a 200 day moving average price of $23.38.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $154.62 million during the quarter, compared to the consensus estimate of $162.23 million. The company’s revenue was down 9.5% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, August 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date of this dividend was Monday, August 5th. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stephens raised their price target 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. Wedbush raised their target price on shares of Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Raymond James increased their price target on shares of 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, StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and an average price target of $26.50.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Truist Financial Corp raised its position in Pacific Premier Bancorp by 5.8% in the 4th quarter. Truist Financial Corp now owns 33,848 shares of the financial services provider’s stock worth $985,000 after buying an additional 1,842 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pacific Premier Bancorp by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,103,654 shares of the financial services provider’s stock valued at $32,127,000 after purchasing an additional 63,384 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Pacific Premier Bancorp by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,067,760 shares of the financial services provider’s stock worth $147,527,000 after purchasing an additional 131,448 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Pacific Premier Bancorp by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,486,456 shares of the financial services provider’s stock worth $72,381,000 after purchasing an additional 207,901 shares during the period. Finally, Inceptionr LLC purchased a new stake in Pacific Premier Bancorp during the 4th quarter valued at $293,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

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.