AlphaQuest LLC Cuts Stock Position in Pacific Premier Bancorp Inc $PPBI

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

Several other hedge funds and other institutional investors also recently made changes to their positions in PPBI. Caitong International Asset Management Co. Ltd grew its stake in shares of Pacific Premier Bancorp by 8,794.4% in 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 buying an additional 1,583 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 741 shares during the last quarter. KBC Group NV grew its stake 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 worth $117,000 after buying an additional 546 shares during the last quarter. Point72 Asset Management L.P. grew its stake 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 worth $162,000 after buying an additional 4,120 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Pacific Premier Bancorp during the 4th quarter valued at $200,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

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

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $24.31 on Friday. The business's fifty day simple moving average is $22.02 and its two-hundred day simple moving average is $21.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. Pacific Premier Bancorp Inc has a 12 month low of $18.06 and a 12 month high of $30.28. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 17.12 and a beta of 1.19.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping 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 return on equity of 4.85% and a net margin of 16.13%.During the same period last year, the business posted $0.43 EPS. 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 company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is 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.

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