Healthcare of Ontario Pension Plan Trust Fund Purchases New Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,000 shares of the financial services provider’s stock, valued at approximately $1,333,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.05% of Pacific Premier Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PPBI. GAMMA Investing LLC increased its position in shares of Pacific Premier Bancorp by 121.5% during the 3rd 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. nVerses Capital LLC grew its stake in Pacific Premier Bancorp by 93.8% during the second 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 during the last quarter. KBC Group NV increased its holdings in shares of Pacific Premier Bancorp by 30.0% during the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after buying an additional 849 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Pacific Premier Bancorp in the second quarter valued at approximately $95,000. Finally, FMR LLC boosted its holdings in shares of Pacific Premier Bancorp by 11.9% in the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 723 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Pacific Premier Bancorp Stock Performance

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

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 firm had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the business earned $0.48 earnings per share. Sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share 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. Shareholders of record on Monday, November 4th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.65%. Pacific Premier Bancorp’s payout ratio is presently -879.94%.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated 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 approximately $2,924,014.28. This represents a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The trade was a 11.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,023 shares of company stock worth $1,245,713 in the last quarter. 2.21% of the stock is owned by company 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.