American Century Companies Inc. Sells 992,297 Shares of Pacific Premier Bancorp Inc $PPBI

Key Points

• American Century Companies Inc. has reduced its stake in Pacific Premier Bancorp Inc. by 38.1%, selling 992,297 shares to hold approximately 1.66% of the company, valued at $34.4 million.
• Analysts have recently downgraded the stock from a "strong-buy" to a "hold" rating, with a current average consensus price target of $27.50.
• The company announced a quarterly dividend of $0.33, representing a 5.8% yield, despite a net margin drop compared to the previous year.

American Century Companies Inc. lowered its stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 38.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,614,228 shares of the financial services provider's stock after selling 992,297 shares during the quarter. American Century Companies Inc. owned about 1.66% of Pacific Premier Bancorp worth $34,415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its position in Pacific Premier Bancorp by 8,794.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock worth $34,000 after acquiring an additional 1,583 shares during the period. 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 valued at $49,000 after buying an additional 741 shares during the period. Sterling Capital Management LLC increased its holdings in Pacific Premier Bancorp by 729.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after buying an additional 2,655 shares during the period. 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 valued at $117,000 after buying an additional 546 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in 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 valued at $162,000 after buying an additional 4,120 shares during the period. Institutional investors own 93.11% of the company's stock.

Insider Buying and Selling at Pacific Premier Bancorp

In other 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 sale, the general counsel owned 51,042 shares of the company's stock, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Price Performance

Shares of PPBI traded up $0.28 during trading hours on Wednesday, hitting $24.63. The stock had a trading volume of 2,868,329 shares, compared to its average volume of 861,541. The company's fifty day moving average is $22.27 and its two-hundred day moving average is $21.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week high of $30.28. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 17.35 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 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $145.64 million for the quarter, compared to analyst estimates of $147.67 million. During the same quarter in the prior year, the firm earned $0.43 EPS. On average, analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. Pacific Premier Bancorp's dividend payout ratio is presently 92.96%.

Analyst Upgrades and Downgrades

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

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.