Entropy Technologies LP Invests $468,000 in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Key Points

• Entropy Technologies LP has invested approximately $468,000 in Pacific Premier Bancorp Inc by acquiring 21,974 shares during the first quarter.
• The company reported $0.39 EPS in its latest quarterly earnings, exceeding analyst estimates of $0.34.
• Pacific Premier Bancorp announced a quarterly dividend of $0.33 per share, which contributes to an annualized yield of 5.6%.

Entropy Technologies LP bought a new position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,974 shares of the financial services provider's stock, valued at approximately $468,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock worth $49,000 after purchasing an additional 741 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Pacific Premier Bancorp by 729.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after purchasing an additional 2,655 shares during the last quarter. KBC Group NV grew its holdings in shares of 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 during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of 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 during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of Pacific Premier Bancorp in the fourth quarter worth approximately $200,000. Institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $23.56 on Thursday. The stock has a fifty day moving average of $21.74 and a 200 day moving average of $21.99. 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 $2.29 billion, a price-to-earnings ratio of 16.59 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $147.67 million. During the same quarter last year, the firm posted $0.43 earnings per share. As a group, research analysts expect that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.32 dividend on an annualized basis and a yield of 5.6%. Pacific Premier Bancorp's dividend payout ratio is 92.96%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson lowered Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen assumed coverage on Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a "sell" rating for the company.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the stock in a transaction on 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.29% of the company's stock.

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.

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