Advantage Alpha Capital Partners LP Acquires 6,618 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Advantage Alpha Capital Partners LP grew its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 53.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,980 shares of the financial services provider’s stock after acquiring an additional 6,618 shares during the quarter. Advantage Alpha Capital Partners LP’s holdings in Pacific Premier Bancorp were worth $478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Pacific Premier Bancorp by 4.4% in 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. American Century Companies Inc. boosted its stake in shares of 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. Massachusetts Financial Services Co. MA boosted its stake in shares of Pacific Premier Bancorp by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock valued at $69,651,000 after purchasing an additional 321,716 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Pacific Premier Bancorp by 8.5% during the second quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock valued at $35,979,000 after buying an additional 122,285 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Pacific Premier Bancorp by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,290,172 shares of the financial services provider’s stock worth $32,461,000 after buying an additional 52,962 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This trade represents a 11.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at $712,281. This represents a 26.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock valued at $1,245,713 in the last quarter. 2.21% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Wedbush cut their price objective 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 analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Trading Down 0.9 %

Shares of NASDAQ PPBI opened at $28.86 on Wednesday. The company has a 50 day simple moving average of $26.14 and a two-hundred day simple moving average of $24.60. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09.

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

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio is presently -879.94%.

Pacific Premier Bancorp 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.