Algert Global LLC Has $5.90 Million Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Algert Global LLC raised its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 22.0% in the third quarter, Holdings Channel.com reports. The firm owned 234,616 shares of the financial services provider’s stock after buying an additional 42,357 shares during the period. Algert Global LLC’s holdings in Pacific Premier Bancorp were worth $5,903,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of 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 worth $30,000 after buying an additional 649 shares during the last quarter. nVerses Capital LLC boosted its stake in shares of Pacific Premier Bancorp by 93.8% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after buying an additional 1,500 shares during the last quarter. KBC Group NV boosted its stake in shares of Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after buying an additional 849 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Pacific Premier Bancorp in the 2nd quarter worth approximately $95,000. Finally, Point72 DIFC Ltd boosted its stake in shares of Pacific Premier Bancorp by 202.9% in the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider’s stock worth $183,000 after buying an additional 5,336 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Up 2.9 %

Shares of NASDAQ PPBI opened at $28.73 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $2.77 billion, a PE ratio of -191.52 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a one year low of $20.52 and a one year high of $30.13. The business’s fifty day moving average price is $26.04 and its 200-day moving average price is $24.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.01). The business had revenue of $224.49 million for the quarter, compared to analyst estimates of $153.23 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. On average, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.59%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -879.94%.

Insider Activity at Pacific Premier Bancorp

In related news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the sale, the director now owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the sale, the executive vice president now directly owns 25,475 shares in the company, valued at $712,281. This trade represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,023 shares of company stock worth $1,245,713. Corporate insiders own 2.21% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wedbush cut their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $26.50.

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.