Charles Schwab Investment Management Inc. Has $29.04 Million Holdings in 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. grew its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 1.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,362,284 shares of the financial services provider's stock after buying an additional 17,594 shares during the period. 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.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in 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 worth $49,000 after buying an additional 741 shares during the period. Sterling Capital Management LLC increased its position in Pacific Premier Bancorp by 729.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after buying an additional 2,655 shares during the period. KBC Group NV increased its position in Pacific Premier Bancorp by 11.0% during 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 period. Point72 Asset Management L.P. increased its position in Pacific Premier Bancorp by 171.7% during 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 period. Finally, Quantinno Capital Management LP bought a new position in Pacific Premier Bancorp during the 4th quarter worth $200,000. Institutional investors own 93.11% of the company's stock.

Wall Street Analyst Weigh In

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

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI traded up $1.52 during mid-day trading on Friday, reaching $24.31. The company had a trading volume of 1,077,921 shares, compared to its average volume of 919,478. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. Pacific Premier Bancorp Inc has a one year low of $18.06 and a one year high of $30.28. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 17.12 and a beta of 1.19. The business's 50-day simple moving average is $22.02 and its 200 day simple moving average is $21.87.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. Pacific Premier Bancorp had a return on equity of 4.85% and a net margin of 16.13%.The company had revenue of $145.64 million for the quarter, compared to analysts' expectations of $147.67 million. During the same quarter last year, the business earned $0.43 earnings per share. On average, research analysts predict that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

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

Insiders Place Their Bets

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

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.