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 bought a new position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 17,658 shares of the financial services provider's stock, valued at approximately $376,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Invesco Ltd. raised its position in Pacific Premier Bancorp by 5.0% in the first quarter. Invesco Ltd. now owns 2,358,441 shares of the financial services provider's stock valued at $50,282,000 after purchasing an additional 111,641 shares during the period. Victory Capital Management Inc. grew its holdings in Pacific Premier Bancorp by 2.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,464,112 shares of the financial services provider's stock worth $31,215,000 after acquiring an additional 37,267 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Pacific Premier Bancorp by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,362,284 shares of the financial services provider's stock valued at $29,044,000 after purchasing an additional 17,594 shares in the last quarter. Nuveen LLC acquired a new position in shares of Pacific Premier Bancorp during the 1st quarter worth about $27,156,000. Finally, Nuveen Asset Management LLC grew its position in shares of Pacific Premier Bancorp by 25.0% in the 4th quarter. Nuveen Asset Management LLC now owns 942,505 shares of the financial services provider's stock valued at $23,487,000 after buying an additional 188,530 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Steven R. Arnold sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total value of $112,700.00. Following the completion of the sale, the general counsel owned 51,042 shares of the company's stock, valued at approximately $1,150,486.68. The trade was a 8.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.29% of the company's stock.

Analyst Ratings Changes

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

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI remained flat at $24.49 during midday trading on Wednesday. The company's 50 day simple moving average is $22.93 and its two-hundred day simple moving average is $21.79. The firm has a market cap of $2.38 billion, a PE ratio of 17.25 and a beta of 1.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. Pacific Premier Bancorp Inc has a 1-year low of $18.06 and a 1-year high of $30.28.

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 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.05. The firm had revenue of $145.64 million for the quarter, compared to the consensus estimate of $147.67 million. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. During the same period in the prior year, the firm posted $0.43 EPS. On average, sell-side analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

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

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.