Deutsche Bank AG Acquires 26,888 Shares of Pacific Premier Bancorp Inc $PPBI

Key Points

• Deutsche Bank AG increased its holdings in Pacific Premier Bancorp Inc by 30.0%, purchasing an additional 26,888 shares, bringing its total ownership to 116,419 shares worth approximately $2.48 million.
• Pacific Premier Bancorp recently announced a quarterly dividend of $0.33, resulting in an annualized yield of 5.7%, with a high dividend payout ratio of 92.96%.
• The company's latest earnings report exceeded expectations with $0.39 EPS, and despite revenue falling slightly short of estimates, analysts predict a future EPS of 1.34 for the current fiscal year.

Deutsche Bank AG lifted its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 30.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 116,419 shares of the financial services provider's stock after buying an additional 26,888 shares during the quarter. Deutsche Bank AG owned about 0.12% of Pacific Premier Bancorp worth $2,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PPBI. Victory Capital Management Inc. increased its position in Pacific Premier Bancorp by 2.6% in the 1st quarter. Victory Capital Management Inc. now owns 1,464,112 shares of the financial services provider's stock valued at $31,215,000 after acquiring an additional 37,267 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pacific Premier Bancorp by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,362,284 shares of the financial services provider's stock worth $29,044,000 after purchasing an additional 17,594 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Pacific Premier Bancorp by 25.0% during the fourth quarter. Nuveen Asset Management LLC now owns 942,505 shares of the financial services provider's stock valued at $23,487,000 after purchasing an additional 188,530 shares during the last quarter. Azora Capital LP grew its stake in shares of Pacific Premier Bancorp by 54.4% during the fourth quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock valued at $18,635,000 after purchasing an additional 263,383 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Pacific Premier Bancorp by 50.2% in the fourth quarter. Millennium Management LLC now owns 687,180 shares of the financial services provider's stock valued at $17,125,000 after purchasing an additional 229,821 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Insiders Place Their Bets

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 shares were sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the transaction, the general counsel owned 51,042 shares in the company, valued at approximately $1,150,486.68. The trade was a 8.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.29% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on PPBI. DA Davidson downgraded 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 Pacific Premier Bancorp in a report on Thursday, May 22nd. They set a "sell" rating for the company. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $27.50.

Pacific Premier Bancorp Trading Up 6.7%

Shares of PPBI stock traded up $1.52 during trading hours on Friday, reaching $24.31. The company had a trading volume of 1,077,921 shares, compared to its average volume of 919,478. Pacific Premier Bancorp Inc has a 1-year low of $18.06 and a 1-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 firm has a market cap of $2.36 billion, a price-to-earnings ratio of 17.12 and a beta of 1.19. The company has a 50 day moving average of $22.02 and a 200 day moving average of $21.87.

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

Pacific Premier Bancorp Dividend Announcement

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

About Pacific Premier Bancorp

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.