Rep. Josh Gottheimer Buys Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Pacific Premier Bancorp stock on October 17th.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $27.73 on Friday. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of -184.85 and a beta of 1.21. 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, Inc. has a twelve month low of $19.32 and a twelve month high of $30.13. The company’s fifty day moving average is $25.25 and its 200 day moving average is $24.11.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. Sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 1.59 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.76%. The ex-dividend date is Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently -879.94%.

Institutional Investors Weigh In On Pacific Premier Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings in 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 worth $1,135,000 after purchasing an additional 20,619 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Pacific Premier Bancorp during the first quarter worth $217,000. Fidelis Capital Partners LLC purchased a new stake in Pacific Premier Bancorp in the 1st quarter valued at $27,000. GSA Capital Partners LLP purchased a new stake in Pacific Premier Bancorp in the 1st quarter valued at $858,000. Finally, Texas Permanent School Fund Corp lifted its stake in Pacific Premier Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 83,931 shares of the financial services provider’s stock valued at $2,014,000 after acquiring an additional 1,123 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jeff C. Jones sold 11,251 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction 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 sale, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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 report on Friday, October 25th. Raymond James upped their price objective 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. Finally, Stephens raised their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus target price of $26.50.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.