Rep. Josh Gottheimer Purchases Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Pacific Premier Bancorp stock on October 17th.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Pacific Premier Bancorp Trading Down 4.4 %

Shares of NASDAQ PPBI opened at $27.73 on Friday. The firm’s 50 day moving average price is $25.25 and its 200-day moving average price is $24.11. Pacific Premier Bancorp, Inc. has a 52-week low of $19.32 and a 52-week 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 company has a market cap of $2.67 billion, a PE ratio of -184.85 and a beta of 1.21.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued 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 business had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same quarter last year, the company posted $0.48 EPS. On average, equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.59 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th will be paid a dividend of $0.33 per share. The ex-dividend date is Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a yield of 4.76%. Pacific Premier Bancorp’s dividend payout ratio is currently -879.94%.

Insider Activity

In other Pacific Premier Bancorp news, Director Jeff C. Jones sold 11,251 shares of the firm’s 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 sale, the director now 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 other news, 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 directly owns 230,592 shares in the company, valued at $5,448,888.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the company’s 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 completion of the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at approximately $2,924,014.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Institutional Trading of Pacific Premier Bancorp

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in shares of Pacific Premier Bancorp by 77.3% during the 1st quarter. BNP Paribas Financial Markets now owns 47,301 shares of the financial services provider’s stock worth $1,135,000 after acquiring an additional 20,619 shares during the last quarter. Capstone Investment Advisors LLC bought a new stake in Pacific Premier Bancorp during the first quarter valued at about $217,000. Fidelis Capital Partners LLC bought a new stake in Pacific Premier Bancorp during the first quarter valued at about $27,000. GSA Capital Partners LLP purchased a new stake in Pacific Premier Bancorp in the first quarter worth about $858,000. Finally, Texas Permanent School Fund Corp raised its stake in shares of Pacific Premier Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 83,931 shares of the financial services provider’s stock worth $2,014,000 after buying an additional 1,123 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PPBI. Raymond James lifted 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. Wedbush decreased 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 report on Friday, October 25th. Finally, Stephens increased their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus price target of $26.50.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

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.