Insider Selling: Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Sells $276,492.30 in Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) EVP Michael S. Karr sold 10,290 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the sale, the executive vice president now owns 79,474 shares in the company, valued at approximately $2,135,466.38. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Pacific Premier Bancorp Stock Performance

Pacific Premier Bancorp stock opened at $25.07 on Friday. The firm has a market capitalization of $2.42 billion, a P/E ratio of -167.12 and a beta of 1.24. The stock has a fifty day moving average price of $27.08 and a two-hundred day moving average price of $25.19. Pacific Premier Bancorp, Inc. has a 52-week low of $20.52 and a 52-week high of $30.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results 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 analyst estimates of $153.23 million. During the same period in the prior year, the business earned $0.48 EPS. As a group, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is currently -880.00%.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of PPBI. GAMMA Investing LLC boosted its stake in Pacific Premier Bancorp by 121.5% in the third quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 649 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Pacific Premier Bancorp in the third quarter valued at about $60,000. nVerses Capital LLC lifted its position in Pacific Premier Bancorp by 93.8% during 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 in the last quarter. KBC Group NV increased its position in 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 valued at $93,000 after acquiring an additional 849 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Pacific Premier Bancorp in the second quarter worth about $95,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About Pacific Premier Bancorp

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.