CWC Advisors LLC. Takes Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

CWC Advisors LLC. acquired a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,327 shares of the financial services provider’s stock, valued at approximately $235,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in Pacific Premier Bancorp by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 11,316,980 shares of the financial services provider’s stock valued at $329,437,000 after buying an additional 65,694 shares in the last quarter. Dimensional Fund Advisors LP raised its stake 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 buying an additional 238,854 shares in the last quarter. American Century Companies Inc. raised its stake in Pacific Premier Bancorp by 6.1% in the second quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after buying an additional 242,721 shares in the last quarter. Victory Capital Management Inc. raised its stake in Pacific Premier Bancorp by 8.5% in 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 in the last quarter. Finally, William Blair Investment Management LLC raised its stake in Pacific Premier Bancorp by 56.0% in the first 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. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp Price Performance

Shares of PPBI opened at $25.09 on Friday. Pacific Premier Bancorp, Inc. has a twelve month low of $18.60 and a twelve month high of $30.13. The stock’s 50 day moving average is $25.09 and its two-hundred day moving average is $23.84. The firm has a market capitalization of $2.42 billion, a PE ratio of -627.09 and a beta of 1.22. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18.

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 for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the previous year, the company earned $0.48 earnings per share. Research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.64 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.26%. Pacific Premier Bancorp’s payout ratio is -3,299.18%.

Insider Activity

In other news, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The shares were 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 in the company, valued at approximately $2,924,014.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.63, for a total transaction of $720,691.37. Following the completion of the transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

PPBI has been the topic of several research reports. Wedbush dropped 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. Stephens raised their price objective on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Raymond James raised their price objective on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.50.

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.