Pacific Premier Bancorp Inc $PPBI Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC has reduced its stake in Pacific Premier Bancorp Inc by 18.8%, now owning 66,623 shares worth approximately $1.42 million.
• Pacific Premier Bancorp has a current consensus rating of "Hold", with a target price of $27.50, as set by analysts from Wall Street Zen.
• The company declared a quarterly dividend of $0.33 per share, equating to an annualized payout of $1.32 and a dividend yield of 5.4%.

AlphaQuest LLC trimmed its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,623 shares of the financial services provider's stock after selling 15,411 shares during the quarter. AlphaQuest LLC owned approximately 0.07% of Pacific Premier Bancorp worth $1,420,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Pacific Premier Bancorp by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock valued at $10,238,000 after purchasing an additional 12,542 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Pacific Premier Bancorp in the 1st quarter worth $352,000. GAMMA Investing LLC increased its holdings in Pacific Premier Bancorp by 47.9% in 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 increased its holdings in 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 worth $117,000 after acquiring an additional 546 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Pacific Premier Bancorp by 30.0% in the 1st quarter. Deutsche Bank AG now owns 116,419 shares of the financial services provider's stock worth $2,482,000 after acquiring an additional 26,888 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the company's 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 transaction, the general counsel owned 51,042 shares of the company's stock, valued at $1,150,486.68. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.29% of the stock is owned by insiders.

Pacific Premier Bancorp Trading Down 1.1%

NASDAQ PPBI traded down $0.27 during trading hours on Thursday, reaching $24.36. The company had a trading volume of 797,126 shares, compared to its average volume of 883,907. The stock has a 50-day moving average of $22.27 and a 200 day moving average of $21.83. Pacific Premier Bancorp Inc has a 1-year low of $18.06 and a 1-year high of $30.28. 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 stock has a market capitalization of $2.36 billion, a P/E ratio of 17.15 and a beta of 1.19.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its earnings results 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. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. The company had revenue of $145.64 million for the quarter, compared to analysts' expectations of $147.67 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. As a group, research analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given 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 is presently 92.96%.

Wall Street Analyst Weigh In

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

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.