MQS Management LLC Makes New Investment in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

MQS Management LLC purchased a new position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 23,510 shares of the financial services provider's stock, valued at approximately $501,000.

Other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Pacific Premier Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock worth $10,238,000 after buying an additional 12,542 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pacific Premier Bancorp in the first quarter valued at about $352,000. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 741 shares in the last quarter. KBC Group NV raised its holdings in Pacific Premier Bancorp by 11.0% in the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after purchasing an additional 546 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Pacific Premier Bancorp in the fourth quarter worth about $964,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock traded up $0.46 during trading hours on Thursday, hitting $22.11. 1,356,121 shares of the company's stock were exchanged, compared to its average volume of 714,943. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.15 billion, a P/E ratio of 14.55 and a beta of 1.16. The firm has a 50 day moving average of $21.62 and a two-hundred day moving average of $22.31. Pacific Premier Bancorp Inc has a fifty-two week low of $18.06 and a fifty-two week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. The business had revenue of $144.83 million during the quarter, compared to the consensus estimate of $143.25 million. During the same period in the prior year, the company posted $0.49 EPS. Sell-side analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 86.84%.

Analyst Ratings Changes

PPBI has been the subject of a number of recent research reports. DA Davidson downgraded shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. Wall Street Zen initiated coverage on Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.25.

Insider Activity

In related news, COO Edward Earl Wilcox sold 14,500 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $20.28, for a total transaction of $294,060.00. Following the completion of the sale, the chief operating officer directly owned 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This trade represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Company Profile

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.