Azora Capital LP Invests $12.19 Million in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Azora Capital LP acquired a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 484,396 shares of the financial services provider’s stock, valued at approximately $12,187,000. Azora Capital LP owned about 0.50% of Pacific Premier Bancorp at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 649 shares during the last quarter. nVerses Capital LLC raised its stake in shares of Pacific Premier Bancorp by 93.8% in the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,500 shares in the last quarter. KBC Group NV lifted its holdings 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 worth $93,000 after purchasing an additional 849 shares during the last quarter. Innealta Capital LLC bought a new stake in Pacific Premier Bancorp during the second quarter worth approximately $95,000. Finally, FMR LLC grew its holdings in Pacific Premier Bancorp by 11.9% during the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 723 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Down 1.1 %

Shares of PPBI stock opened at $28.40 on Monday. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.74 billion, a PE ratio of -189.32 and a beta of 1.21. The stock has a 50 day moving average of $26.41 and a 200-day moving average of $24.75.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing the consensus estimate 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 firm posted $0.48 EPS. On average, equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.65%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is presently -879.94%.

Wall Street Analysts Forecast Growth

Separately, Wedbush reduced their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.50.

Insider Buying and Selling

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the sale, the executive vice president now owns 25,475 shares in the company, valued at $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction 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 transaction, the director now owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This represents a 8.33 % 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 valued at $1,245,713 over the last three months. 2.21% of the stock is owned by corporate insiders.

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.