Fox Run Management L.L.C. Takes Position in Pacific Premier Bancorp Inc $PPBI

Key Points

• Fox Run Management L.L.C. invested approximately $733,000 in Pacific Premier Bancorp Inc, acquiring 34,366 shares of the company during the first quarter.
• Pacific Premier Bancorp reported earnings of $0.39 EPS for the recent quarter, surpassing the consensus estimate of $0.34, with a net margin of 16.13%.
• The company declared a quarterly dividend of $0.33 per share, leading to an annualized dividend yield of 5.7%, with a payout ratio of 92.96%.

Fox Run Management L.L.C. purchased a new stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,366 shares of the financial services provider's stock, valued at approximately $733,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jacobs Asset Management LLC increased its stake in Pacific Premier Bancorp by 0.5% during the fourth quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider's stock worth $2,097,000 after acquiring an additional 400 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Pacific Premier Bancorp by 2.5% in the 1st quarter. HighTower Advisors LLC now owns 19,848 shares of the financial services provider's stock valued at $423,000 after purchasing an additional 477 shares in the last quarter. KBC Group NV grew its holdings 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 purchasing an additional 546 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Pacific Premier Bancorp by 2.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 25,250 shares of the financial services provider's stock worth $538,000 after purchasing an additional 546 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in Pacific Premier Bancorp by 4.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider's stock worth $379,000 after purchasing an additional 591 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock traded down $0.2950 during trading hours on Thursday, reaching $22.7750. The company's stock had a trading volume of 335,430 shares, compared to its average volume of 868,007. Pacific Premier Bancorp Inc has a one year low of $18.06 and a one year high of $30.28. The company's 50 day simple moving average is $21.92 and its 200 day simple moving average is $21.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $2.21 billion, a P/E ratio of 16.01 and a beta of 1.19.

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 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. The firm had revenue of $145.64 million for the quarter, compared to analyst estimates of $147.67 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. As a group, analysts expect 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. Investors of record on Tuesday, August 5th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.32 dividend on an annualized basis and a yield of 5.8%. Pacific Premier Bancorp's payout ratio is currently 92.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson cut shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a "sell" rating on the stock. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $27.50.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the firm's 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 sale, the general counsel directly owned 51,042 shares in the company, valued at approximately $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 can be accessed through this link. 2.29% of the stock is owned by corporate 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.