Assenagon Asset Management S.A. Has $3.68 Million Holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Assenagon Asset Management S.A. reduced its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 77.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,684 shares of the financial services provider's stock after selling 579,303 shares during the period. Assenagon Asset Management S.A. owned approximately 0.18% of Pacific Premier Bancorp worth $3,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PPBI. GAMMA Investing LLC lifted its position in shares of Pacific Premier Bancorp by 47.9% during the 1st 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 during the period. Smartleaf Asset Management LLC increased its position in shares of Pacific Premier Bancorp by 158.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,853 shares during the period. Sterling Capital Management LLC raised its stake in Pacific Premier Bancorp by 729.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 2,655 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Pacific Premier Bancorp by 171.7% during the fourth quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock worth $162,000 after purchasing an additional 4,120 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in Pacific Premier Bancorp during the fourth quarter worth about $200,000. Institutional investors and hedge funds own 93.11% of the company's stock.

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 dated Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the transaction, the chief operating officer now owns 140,283 shares of the company's stock, valued at $2,844,939.24. This represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.29% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded down $0.44 during trading on Tuesday, hitting $20.12. 726,277 shares of the company's stock were exchanged, compared to its average volume of 670,947. The company has a market cap of $1.95 billion, a PE ratio of 13.53 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp Inc has a fifty-two week low of $18.06 and a fifty-two week high of $30.28. The stock's 50 day moving average price is $20.83 and its two-hundred day moving average price is $23.00.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. The business had revenue of $144.83 million during the quarter, compared to analysts' expectations 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 in the prior year, the company earned $0.49 EPS. Research analysts expect that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders 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 6.56%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp's payout ratio is 86.84%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen started coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued a "sell" rating for the company. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Pacific Premier Bancorp has a consensus rating of "Hold" and a consensus target price of $27.25.

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.