MQS Management LLC Invests $501,000 in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its holdings in Pacific Premier Bancorp by 749.7% in the 1st quarter. CWM LLC now owns 22,263 shares of the financial services provider's stock worth $475,000 after buying an additional 19,643 shares during the period. Cerity Partners LLC lifted its position in shares of Pacific Premier Bancorp by 105.0% in the first quarter. Cerity Partners LLC now owns 19,994 shares of the financial services provider's stock valued at $426,000 after acquiring an additional 10,243 shares in the last quarter. Alps Advisors Inc. bought a new position in shares of Pacific Premier Bancorp in the first quarter worth about $343,000. Hexagon Capital Partners LLC grew its position in shares of Pacific Premier Bancorp by 2.2% during the first quarter. Hexagon Capital Partners LLC now owns 25,250 shares of the financial services provider's stock worth $538,000 after purchasing an additional 546 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Pacific Premier Bancorp by 2.7% during the first quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock worth $10,238,000 after purchasing an additional 12,542 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total transaction of $294,060.00. Following the sale, the chief operating officer directly owned 140,283 shares in the company, valued at $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.29% of the company's stock.

Wall Street Analysts Forecast Growth

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

Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded up $0.20 during trading on Monday, hitting $22.56. 958,378 shares of the stock traded hands, compared to its average volume of 842,001. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp Inc has a 12-month low of $18.06 and a 12-month high of $30.28. The firm has a 50-day simple moving average of $21.54 and a 200-day simple moving average of $22.35. The company has a market capitalization of $2.19 billion, a P/E ratio of 14.84 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. The firm had revenue of $144.83 million during the quarter, compared to analyst estimates of $143.25 million. Pacific Premier Bancorp had a net margin of 16.89% and a return on equity of 5.01%. During the same period last year, the firm posted $0.49 earnings per share. As a group, analysts predict that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.85%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio is 86.84%.

Pacific Premier Bancorp 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.