Commerce Bank Has $700,000 Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Commerce Bank trimmed its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,881 shares of the financial services provider’s stock after selling 1,199 shares during the period. Commerce Bank’s holdings in Pacific Premier Bancorp were worth $700,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dark Forest Capital Management LP acquired a new stake in Pacific Premier Bancorp in the second quarter valued at $32,000. Amundi Pioneer Asset Management Inc. acquired a new stake in Pacific Premier Bancorp in the first quarter valued at $85,000. William Blair Investment Management LLC acquired a new stake in Pacific Premier Bancorp in the second quarter valued at $96,000. Panagora Asset Management Inc. acquired a new stake in Pacific Premier Bancorp in the second quarter valued at $162,000. Finally, Xponance Inc. bought a new stake in Pacific Premier Bancorp during the second quarter valued at $217,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

PPBI stock opened at $44.27 on Friday. The stock has a market capitalization of $4.19 billion, a PE ratio of 13.06 and a beta of 1.28. The company’s 50-day moving average is $40.91 and its 200-day moving average is $40.54. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.80 and a quick ratio of 0.80. Pacific Premier Bancorp, Inc. has a 1 year low of $32.70 and a 1 year high of $47.46.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Wednesday, October 20th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.13. The company had revenue of $199.20 million for the quarter, compared to analysts’ expectations of $189.20 million. Pacific Premier Bancorp had a net margin of 40.06% and a return on equity of 11.61%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, analysts anticipate that Pacific Premier Bancorp, Inc. will post 3.48 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Monday, November 1st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, October 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 38.94%.

A number of analysts have commented on PPBI shares. Raymond James cut shares of Pacific Premier Bancorp from a “strong-buy” rating to an “outperform” rating and upped their price target for the company from $45.00 to $47.00 in a research report on Thursday, October 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 8th.

In related news, Director Joseph L. Garrett sold 780 shares of the company’s stock in a transaction dated Tuesday, November 9th. The shares were sold at an average price of $44.10, for a total value of $34,398.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeff C. Jones sold 6,248 shares of the stock in a transaction dated Tuesday, November 2nd. The shares were sold at an average price of $43.75, for a total transaction of $273,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,518 shares of company stock worth $371,654 in the last three months. Insiders own 2.04% of the company’s stock.

About Pacific Premier Bancorp

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.

See Also: Return on Investment (ROI)

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Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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