EJF Capital LLC Has $2.22 Million Stock Position in Pacific Premier Bancorp Inc $PPBI

Key Points

• EJF Capital LLC significantly increased its stake in Pacific Premier Bancorp by 165.1% during the first quarter, now owning 104,261 shares valued at approximately $2.2 million.
• Pacific Premier Bancorp recently announced a $0.33 quarterly dividend per share, resulting in an annualized dividend yield of 5.4%.
• The company's last earnings report showed an EPS of $0.39, exceeding analysts' expectations by $0.05, despite revenues falling short of forecasts.

EJF Capital LLC boosted its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 165.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 104,261 shares of the financial services provider's stock after purchasing an additional 64,935 shares during the quarter. EJF Capital LLC owned about 0.11% of Pacific Premier Bancorp worth $2,223,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PPBI. Quarry LP lifted its position in Pacific Premier Bancorp by 488.3% in the 1st quarter. Quarry LP now owns 1,459 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 1,211 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in Pacific Premier Bancorp by 8,794.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 1,583 shares during the last quarter. GAMMA Investing LLC lifted its position 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 purchasing an additional 741 shares during the last quarter. KBC Group NV raised 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 in the last quarter. Finally, State of Wyoming raised 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 in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Pacific Premier Bancorp Stock Performance

PPBI stock remained flat at $24.49 during trading hours on Friday. The business has a fifty day moving average of $22.78 and a two-hundred day moving average of $21.77. 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 52 week low of $18.06 and a 52 week high of $30.28. The firm has a market capitalization of $2.38 billion, a P/E ratio of 17.25 and a beta of 1.20.

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. The firm had revenue of $145.64 million during the quarter, compared to analysts' expectations of $147.67 million. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. During the same period in the prior year, the company earned $0.43 EPS. Analysts predict 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. Shareholders 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 yield of 5.4%. Pacific Premier Bancorp's dividend payout ratio is currently 92.96%.

Insider Buying and Selling

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were 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 in the company, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.29% of the stock is currently owned by corporate insiders.

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.