Insider Selling: Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) CFO Sells $110,118.12 in Stock

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) CFO Lori R. Wright sold 4,668 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total value of $110,118.12. Following the completion of the transaction, the chief financial officer now directly owns 31,259 shares in the company, valued at $737,399.81. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $23.82 on Friday. The firm has a fifty day moving average of $22.73 and a two-hundred day moving average of $24.37. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 183.24 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 52 week low of $17.86 and a 52 week high of $30.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 6.92%. During the same quarter in the previous year, the company posted $0.66 EPS. As a group, equities research analysts predict that Pacific Premier Bancorp, Inc. will post 1.78 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 1,015.46%.

Institutional Trading of Pacific Premier Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in PPBI. Norges Bank bought a new stake in shares of Pacific Premier Bancorp during the 4th quarter valued at $34,788,000. William Blair Investment Management LLC increased its position in shares of Pacific Premier Bancorp by 56.0% in the 1st quarter. William Blair Investment Management LLC now owns 1,328,776 shares of the financial services provider’s stock valued at $31,891,000 after buying an additional 477,167 shares in the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Pacific Premier Bancorp in the 1st quarter valued at $7,812,000. Schroder Investment Management Group bought a new stake in shares of Pacific Premier Bancorp in the 3rd quarter valued at $6,264,000. Finally, Ieq Capital LLC bought a new stake in shares of Pacific Premier Bancorp in the 3rd quarter valued at $6,091,000. Institutional investors own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stephens reissued an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Keefe, Bruyette & Woods reduced their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday, April 25th. Piper Sandler reduced their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Raymond James reaffirmed an “outperform” rating and set a $25.00 price objective (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday, April 25th. Finally, DA Davidson reduced their price objective on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.33.

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.