Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Michael S. Karr Sells 10,290 Shares

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the sale, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Pacific Premier Bancorp Price Performance

PPBI stock opened at $24.59 on Friday. The firm has a market cap of $2.37 billion, a P/E ratio of -163.92 and a beta of 1.24. The firm’s fifty day moving average is $27.10 and its 200 day moving average is $25.17. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. Pacific Premier Bancorp, Inc. has a 52 week low of $20.52 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results 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 company had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same quarter last year, the firm posted $0.48 earnings per share. Research analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were issued a $0.33 dividend. The ex-dividend date was Monday, November 4th. This represents a $1.32 annualized dividend and a yield of 5.37%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently -880.00%.

Wall Street Analysts Forecast Growth

Separately, Wedbush lowered their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One investment 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Azora Capital LP bought a new stake in Pacific Premier Bancorp during the third quarter worth about $12,187,000. Massachusetts Financial Services Co. MA raised its position in shares of Pacific Premier Bancorp by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after purchasing an additional 321,716 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Pacific Premier Bancorp by 61.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after purchasing an additional 245,771 shares during the last quarter. American Century Companies Inc. increased its stake in Pacific Premier Bancorp by 6.1% during the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after purchasing an additional 242,721 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Pacific Premier Bancorp by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after acquiring an additional 238,854 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

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.