Charles Schwab Investment Management Inc. Buys 17,594 Shares of Pacific Premier Bancorp Inc $PPBI

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Pacific Premier Bancorp Inc. by 1.3%, owning approximately 1.40% of the company valued at $29.04 million.
• The company declared a quarterly dividend of $0.33, resulting in an annualized dividend yield of 5.7% and a dividend payout ratio of 92.96%.
• Wall Street analysts have rated Pacific Premier Bancorp with an average rating of "Hold", with a target price of $27.50 after recent coverage changes.

Charles Schwab Investment Management Inc. boosted its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,362,284 shares of the financial services provider's stock after buying an additional 17,594 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.40% of Pacific Premier Bancorp worth $29,044,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PPBI. GAMMA Investing LLC boosted its stake 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 in the last quarter. Sterling Capital Management LLC boosted its stake 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 in the last quarter. KBC Group NV boosted its stake in Pacific Premier Bancorp by 11.0% in the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after purchasing an additional 546 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in 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 purchasing an additional 4,120 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in Pacific Premier Bancorp in the fourth quarter worth $200,000. Institutional investors and hedge funds 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 issued a "sell" rating on the stock. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.50.

Pacific Premier Bancorp Trading Down 0.0%

Shares of PPBI stock traded down $0.01 on Monday, reaching $24.30. 978,016 shares of the stock were exchanged, compared to its average volume of 862,434. The stock has a market cap of $2.36 billion, a PE ratio of 17.11 and a beta of 1.19. Pacific Premier Bancorp Inc has a one year low of $18.06 and a one year high of $30.28. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50 day moving average price of $22.10 and a 200 day moving average price of $21.80.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. The company had revenue of $145.64 million during 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 quarter in the previous year, the company posted $0.43 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

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

Insider Buying and Selling

In related news, General Counsel Steven R. Arnold sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total value of $112,700.00. Following the completion of the sale, the general counsel owned 51,042 shares in the company, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.29% of the company's stock.

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.