Rockefeller Capital Management L.P. Sells 998 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Rockefeller Capital Management L.P. lowered its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,605 shares of the financial services provider’s stock after selling 998 shares during the period. Rockefeller Capital Management L.P.’s holdings in Pacific Premier Bancorp were worth $367,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PPBI. SG Americas Securities LLC increased its position in shares of Pacific Premier Bancorp by 215.7% during the second quarter. SG Americas Securities LLC now owns 36,436 shares of the financial services provider’s stock valued at $837,000 after buying an additional 24,893 shares during the period. AlphaMark Advisors LLC purchased a new position in shares of Pacific Premier Bancorp during the 2nd quarter worth approximately $317,000. Louisiana State Employees Retirement System raised its position in shares of Pacific Premier Bancorp by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock worth $1,114,000 after acquiring an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Pacific Premier Bancorp by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock valued at $27,650,000 after purchasing an additional 16,038 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pacific Premier Bancorp by 6.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,924 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 1,363 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Up 0.0 %

PPBI opened at $27.56 on Wednesday. Pacific Premier Bancorp, Inc. has a twelve month low of $20.52 and a twelve 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 50 day moving average price of $26.81 and a 200-day moving average price of $24.98. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -183.72 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly 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 business had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same period in the prior year, the company posted $0.48 EPS. Equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Monday, November 4th. Pacific Premier Bancorp’s payout ratio is -879.94%.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the completion of the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at $712,281. This represents a 26.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush decreased their price objective 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and a consensus target price of $26.50.

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.