Pacific Premier Bancorp Inc (NASDAQ:PPBI) Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its holdings in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 77.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 about 0.18% of Pacific Premier Bancorp worth $3,682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PPBI. GAMMA Investing LLC boosted its position in Pacific Premier Bancorp by 47.9% during the first 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 during the last quarter. Sterling Capital Management LLC lifted its stake in shares of 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 purchasing an additional 2,655 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Pacific Premier Bancorp by 158.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after buying an additional 1,853 shares during the period. Point72 Asset Management L.P. increased its position in shares of Pacific Premier Bancorp by 171.7% in the fourth quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock worth $162,000 after acquiring an additional 4,120 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at $200,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Up 1.2%

Shares of NASDAQ:PPBI traded up $0.24 during trading on Thursday, hitting $20.36. The company's stock had a trading volume of 658,539 shares, compared to its average volume of 673,393. The stock's 50-day moving average price is $20.84 and its two-hundred day moving average price is $22.97. Pacific Premier Bancorp Inc has a fifty-two week low of $18.06 and a fifty-two week high of $30.28. The company has a market capitalization of $1.98 billion, a PE ratio of 13.39 and a beta of 1.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. The firm had revenue of $144.83 million for the quarter, compared to the consensus estimate 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 firm posted $0.49 EPS. As a group, sell-side analysts expect that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 6.48%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio is currently 86.84%.

Insider Activity at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the transaction, the chief operating officer now directly owns 140,283 shares in the company, valued at approximately $2,844,939.24. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.29% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.