Teza Capital Management LLC Invests $376,000 in Pacific Premier Bancorp Inc $PPBI

Key Points

• Teza Capital Management LLC acquired 17,658 shares of Pacific Premier Bancorp Inc, valued at approximately $376,000, during the first quarter.
• The company reported a quarterly earnings per share (EPS) of $0.39, exceeding analysts' expectations of $0.34, despite a year-over-year decline from $0.43 EPS.
• Pacific Premier Bancorp declared a quarterly dividend of $0.33, resulting in an annualized yield of 5.4% with a dividend payout ratio of 92.96%.

Teza Capital Management LLC purchased a new position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,658 shares of the financial services provider's stock, valued at approximately $376,000.

Other hedge funds also recently made changes to their positions in the company. Quarry LP grew its stake in shares of Pacific Premier Bancorp by 488.3% during the 1st quarter. Quarry LP now owns 1,459 shares of the financial services provider's stock worth $31,000 after acquiring an additional 1,211 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Pacific Premier Bancorp by 8,794.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock worth $34,000 after acquiring an additional 1,583 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Pacific Premier Bancorp by 47.9% during the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock worth $49,000 after acquiring an additional 741 shares in the last quarter. KBC Group NV boosted its holdings in shares of Pacific Premier Bancorp by 11.0% in the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after buying an additional 546 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Pacific Premier Bancorp by 171.7% in the 4th quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock valued at $162,000 after buying an additional 4,120 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on Pacific Premier Bancorp in a report on Thursday, May 22nd. They issued a "sell" rating for the company. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $27.50.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock remained flat at $24.49 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The business's 50 day simple moving average is $22.98 and its two-hundred day simple moving average is $21.79. Pacific Premier Bancorp Inc has a 1 year low of $18.06 and a 1 year high of $30.28. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 17.25 and a beta of 1.20.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. The business had revenue of $145.64 million during the quarter, compared to analysts' expectations of $147.67 million. During the same quarter in the prior year, the business posted $0.43 earnings per share. As a group, sell-side analysts forecast that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.32 annualized dividend and a yield of 5.4%. Pacific Premier Bancorp's dividend payout ratio is currently 92.96%.

Insiders Place Their Bets

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $22.54, for a total value of $112,700.00. Following the completion of the transaction, the general counsel owned 51,042 shares of the company's stock, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.29% 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.