Paloma Partners Management Co Buys New Shares in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Paloma Partners Management Co purchased a new position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the 3rd quarter, Holdings Channel reports. The firm purchased 11,794 shares of the financial services provider’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PPBI. Natixis Advisors LLC lifted its stake in shares of Pacific Premier Bancorp by 1.0% in the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock valued at $1,124,000 after buying an additional 449 shares during the period. Arizona State Retirement System lifted its position in shares of Pacific Premier Bancorp by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 482 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Pacific Premier Bancorp by 0.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock worth $1,742,000 after purchasing an additional 631 shares in the last quarter. GAMMA Investing LLC increased its holdings in Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after buying an additional 649 shares during the period. Finally, FMR LLC boosted its position in shares of Pacific Premier Bancorp by 11.9% during the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $27.51 on Friday. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The company has a 50 day moving average of $26.57 and a 200-day moving average of $24.84. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -184.59 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last released 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 company had revenue of $224.49 million during the quarter, compared to analysts’ expectations of $153.23 million. During the same period last year, the company earned $0.48 earnings per share. On average, equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 4.80%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -879.94%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at approximately $712,281. This represents a 26.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The shares were 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 directly owns 230,592 shares of the company’s stock, valued at $5,448,888.96. This trade represents a 11.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,023 shares of company stock valued at $1,245,713 in the last 90 days. 2.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Wedbush cut their price target on shares of 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 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.