Cubist Systematic Strategies LLC Has $5.92 Million Stock Holdings in Pacific Premier Bancorp Inc $PPBI

Key Points

• Cubist Systematic Strategies LLC increased its ownership in Pacific Premier Bancorp by 96.7%, acquiring an additional 136,418 shares, bringing its total to 277,421 shares valued at approximately $5.9 million.
• Pacific Premier Bancorp declared a quarterly dividend of $0.33 per share, yielding 5.4% annually, with a dividend payout ratio of 92.96%.
• Analysts have rated Pacific Premier Bancorp with an average rating of "Hold" and a consensus price target of $27.50, while the stock opened at $24.49 on Thursday.

Cubist Systematic Strategies LLC lifted its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 96.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,421 shares of the financial services provider's stock after acquiring an additional 136,418 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.29% of Pacific Premier Bancorp worth $5,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PPBI. Quarry LP lifted its position in Pacific Premier Bancorp by 488.3% in the first quarter. Quarry LP now owns 1,459 shares of the financial services provider's stock worth $31,000 after purchasing an additional 1,211 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Pacific Premier Bancorp by 8,794.4% in 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 purchasing an additional 1,583 shares during the period. GAMMA Investing LLC grew 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 worth $49,000 after buying an additional 741 shares during the period. KBC Group NV grew its position in shares of 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. Finally, State of Wyoming grew its position in shares of Pacific Premier Bancorp by 56.2% during the 1st quarter. State of Wyoming now owns 7,222 shares of the financial services provider's stock worth $154,000 after buying an additional 2,597 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI remained flat at $24.49 during trading on Friday. The firm has a market cap of $2.38 billion, a PE ratio of 17.25 and a beta of 1.20. The business's fifty day moving average is $22.78 and its 200-day moving average is $21.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. Pacific Premier Bancorp Inc has a 12 month low of $18.06 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $145.64 million for the quarter, compared to analysts' expectations of $147.67 million. During the same quarter in the previous year, the business posted $0.43 EPS. On average, equities analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

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

Insider Buying and Selling at Pacific Premier Bancorp

In related news, General Counsel Steven R. Arnold sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the transaction, the general counsel directly owned 51,042 shares of the company's stock, valued at approximately $1,150,486.68. The trade was a 8.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.29% of the company's stock.

Analyst Upgrades and Downgrades

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

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.