Victory Capital Management Inc. Has $36.38 Million Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Victory Capital Management Inc. lessened its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,445,846 shares of the financial services provider’s stock after selling 120,497 shares during the period. Victory Capital Management Inc. owned 1.50% of Pacific Premier Bancorp worth $36,377,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of 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 worth $129,645,000 after buying an additional 238,854 shares during the last quarter. American Century Companies Inc. grew its position in shares of 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 purchasing an additional 242,721 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Pacific Premier Bancorp by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock worth $27,650,000 after purchasing an additional 16,038 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Pacific Premier Bancorp by 61.6% during 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 purchasing an additional 245,771 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Pacific Premier Bancorp by 38.8% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 576,827 shares of the financial services provider’s stock valued at $13,250,000 after purchasing an additional 161,348 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Insider Transactions at Pacific Premier Bancorp

In related news, 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp 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 sale, the executive vice president now directly 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 have sold a total of 51,023 shares of company stock worth $1,245,713 in the last 90 days. Corporate insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $27.75 on Friday. The firm has a market cap of $2.68 billion, a P/E ratio of -185.00 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve month high of $30.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50 day moving average price is $25.62 and its two-hundred day moving average price is $24.37.

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 during the quarter, compared to analyst estimates of $153.23 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is -880.00%.

Analyst Ratings Changes

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