First Trust Advisors LP raised its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Get Rating) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,896 shares of the financial services provider’s stock after acquiring an additional 37,034 shares during the period. First Trust Advisors LP owned approximately 0.52% of Pacific Premier Bancorp worth $15,167,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in PPBI. Massachusetts Financial Services Co. MA bought a new stake in shares of Pacific Premier Bancorp during the third quarter worth approximately $36,739,000. State Street Corp boosted its holdings in shares of Pacific Premier Bancorp by 10.5% during the first quarter. State Street Corp now owns 4,744,931 shares of the financial services provider’s stock worth $167,733,000 after acquiring an additional 452,218 shares during the period. Vanguard Group Inc. raised its position in shares of Pacific Premier Bancorp by 3.5% in the first quarter. Vanguard Group Inc. now owns 10,993,185 shares of the financial services provider’s stock valued at $388,609,000 after buying an additional 366,905 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in shares of Pacific Premier Bancorp in the third quarter valued at approximately $8,915,000. Finally, Brown Advisory Inc. raised its position in shares of Pacific Premier Bancorp by 17.3% in the second quarter. Brown Advisory Inc. now owns 1,836,118 shares of the financial services provider’s stock valued at $53,688,000 after buying an additional 270,981 shares in the last quarter. Institutional investors own 94.22% of the company’s stock.
Pacific Premier Bancorp Stock Down 1.9 %
Shares of PPBI opened at $27.70 on Friday. Pacific Premier Bancorp, Inc. has a one year low of $26.35 and a one year high of $38.14. The company has a market cap of $2.63 billion, a P/E ratio of 9.33 and a beta of 1.25. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $32.02 and a two-hundred day simple moving average of $33.19.
Pacific Premier Bancorp Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 10th. Shareholders of record on Friday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $1.32 annualized dividend and a yield of 4.77%. Pacific Premier Bancorp’s dividend payout ratio is currently 44.44%.
Insider Buying and Selling at Pacific Premier Bancorp
In other Pacific Premier Bancorp news, CEO Steven R. Gardner sold 102,638 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $31.56, for a total transaction of $3,239,255.28. Following the completion of the transaction, the chief executive officer now directly owns 368,482 shares in the company, valued at $11,629,291.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Steven R. Gardner sold 102,638 shares of the company’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $31.56, for a total transaction of $3,239,255.28. Following the completion of the transaction, the chief executive officer now directly owns 368,482 shares in the company, valued at $11,629,291.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Edward Earl Wilcox sold 19,000 shares of the company’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $33.38, for a total transaction of $634,220.00. Following the transaction, the chief operating officer now owns 153,782 shares of the company’s stock, valued at $5,133,243.16. The disclosure for this sale can be found here. Insiders sold a total of 122,238 shares of company stock worth $3,892,285 over the last three months. Corporate insiders own 2.16% of the company’s stock.
Wall Street Analyst Weigh In
PPBI has been the subject of a number of analyst reports. Raymond James dropped their price target on shares of Pacific Premier Bancorp from $37.00 to $34.00 and set a “strong-buy” rating for the company in a research report on Friday, January 27th. StockNews.com upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, February 28th.
Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc is a bank holding company, which engages in the provision of banking services through its subsidiary, Pacific Premier Bank. It offers deposit products and services for business and consumer customers, including checking, money market and savings accounts, cash management services, electronic banking, and on-line bill payment.
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