Insider Selling: Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Sells 3,829 Shares of Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Tom Rice sold 3,829 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $33.80, for a total value of $129,420.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

NASDAQ:PPBI traded down $0.66 during mid-day trading on Wednesday, hitting $33.22. 303,700 shares of the company’s stock traded hands, compared to its average volume of 402,744. The company has a fifty day moving average of $32.28 and a 200 day moving average of $30.62. Pacific Premier Bancorp, Inc. has a twelve month low of $23.01 and a twelve month high of $34.90. The company has a market capitalization of $2.06 billion, a P/E ratio of 13.24 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.02.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. The business had revenue of $123.77 million for the quarter, compared to analyst estimates of $117.66 million. Pacific Premier Bancorp had a return on equity of 8.07% and a net margin of 28.03%. During the same period in the prior year, the company earned $0.46 earnings per share. On average, research analysts expect that Pacific Premier Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, October 31st. Pacific Premier Bancorp’s dividend payout ratio is presently 35.06%.

PPBI has been the topic of several recent analyst reports. Stephens reaffirmed a “hold” rating and set a $31.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, October 22nd. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Pacific Premier Bancorp from a “strong sell” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, BidaskClub raised Pacific Premier Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $31.00.

Several hedge funds have recently made changes to their positions in PPBI. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Pacific Premier Bancorp in the first quarter valued at about $85,000. Crossmark Global Holdings Inc. acquired a new position in shares of Pacific Premier Bancorp in the second quarter valued at about $219,000. Peregrine Capital Management LLC increased its holdings in shares of Pacific Premier Bancorp by 25.3% in the second quarter. Peregrine Capital Management LLC now owns 288,602 shares of the financial services provider’s stock valued at $8,912,000 after purchasing an additional 58,314 shares during the period. Arizona State Retirement System increased its holdings in shares of Pacific Premier Bancorp by 0.9% in the second quarter. Arizona State Retirement System now owns 70,017 shares of the financial services provider’s stock valued at $2,162,000 after purchasing an additional 602 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Pacific Premier Bancorp by 85.9% in the second quarter. First Trust Advisors LP now owns 99,620 shares of the financial services provider’s stock valued at $3,076,000 after purchasing an additional 46,021 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp Company Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

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