Segall Bryant & Hamill LLC Cuts Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Segall Bryant & Hamill LLC cut its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 596,029 shares of the financial services provider’s stock after selling 11,015 shares during the quarter. Segall Bryant & Hamill LLC owned 0.62% of Pacific Premier Bancorp worth $14,996,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after acquiring an additional 238,854 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Pacific Premier Bancorp by 6.1% during the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock worth $97,695,000 after purchasing an additional 242,721 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Pacific Premier Bancorp by 8.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock worth $35,979,000 after purchasing an additional 122,285 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Pacific Premier Bancorp by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock valued at $27,650,000 after buying an additional 16,038 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock worth $16,214,000 after buying an additional 245,771 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Stephens increased their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Wedbush decreased their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.50.

Insider Activity

In related news, Director Jeff C. Jones sold 11,251 shares of the firm’s 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 completion of the sale, the director now directly owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at $712,281. The trade was a 26.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,023 shares of company stock valued at $1,245,713. 2.21% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $27.61 on Thursday. Pacific Premier Bancorp, Inc. has a fifty-two week low of $20.52 and a fifty-two week high of $30.13. The firm has a market capitalization of $2.66 billion, a P/E ratio of -184.07 and a beta of 1.21. The stock’s fifty day moving average is $25.86 and its two-hundred day moving average is $24.48. 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 (NASDAQ:PPBI) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The company had revenue of $224.49 million for the quarter, compared to analysts’ expectations of $153.23 million. During the same period in the prior year, the company earned $0.48 earnings per share. On average, research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.78%. Pacific Premier Bancorp’s dividend payout ratio is currently -880.00%.

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.