Jacobs Asset Management LLC Trims Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Jacobs Asset Management LLC decreased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 40.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,754 shares of the financial services provider’s stock after selling 57,452 shares during the period. Pacific Premier Bancorp comprises approximately 1.4% of Jacobs Asset Management LLC’s holdings, making the stock its 23rd largest holding. Jacobs Asset Management LLC owned approximately 0.09% of Pacific Premier Bancorp worth $2,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPBI. Linden Thomas Advisory Services LLC increased its stake in Pacific Premier Bancorp by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after purchasing an additional 858 shares during the period. SG Americas Securities LLC increased its stake 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 period. AlphaMark Advisors LLC purchased a new stake in Pacific Premier Bancorp in the second quarter worth $317,000. Louisiana State Employees Retirement System increased its stake in shares of Pacific Premier Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Pacific Premier Bancorp by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock valued at $27,650,000 after buying an additional 16,038 shares during the period. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Trading Down 1.0 %

Shares of PPBI stock opened at $28.11 on Tuesday. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The stock’s 50-day moving average is $26.41 and its 200 day moving average is $24.76. 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 issued its quarterly earnings data 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 company had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts anticipate that Pacific Premier Bancorp, Inc. 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. This represents a $1.32 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is currently -879.94%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the firm’s stock in a transaction dated 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. This trade represents a 11.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the completion of the sale, the director now directly owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This represents a 8.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,023 shares of company stock valued at $1,245,713. 2.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Wedbush cut their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus target price of $26.50.

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.