GAMMA Investing LLC Grows Stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

GAMMA Investing LLC increased its stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 3,053.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,780 shares of the financial services provider's stock after acquiring an additional 47,233 shares during the quarter. GAMMA Investing LLC owned approximately 0.05% of Pacific Premier Bancorp worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PPBI. Bank of New York Mellon Corp raised its holdings in Pacific Premier Bancorp by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 1,128,723 shares of the financial services provider's stock worth $28,128,000 after purchasing an additional 14,310 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Pacific Premier Bancorp in the 4th quarter worth about $1,009,000. Jefferies Financial Group Inc. purchased a new position in Pacific Premier Bancorp during the 4th quarter valued at about $964,000. Renaissance Technologies LLC lifted its position in Pacific Premier Bancorp by 33.1% during the 4th quarter. Renaissance Technologies LLC now owns 175,538 shares of the financial services provider's stock valued at $4,374,000 after acquiring an additional 43,610 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Pacific Premier Bancorp by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 467,665 shares of the financial services provider's stock worth $11,654,000 after acquiring an additional 13,168 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PPBI shares. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating for the company. DA Davidson lowered Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $27.25.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the transaction, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.29% of the stock is currently owned by insiders.

Pacific Premier Bancorp Stock Up 0.7%

Pacific Premier Bancorp stock traded up $0.15 during trading hours on Friday, hitting $20.51. The stock had a trading volume of 411,836 shares, compared to its average volume of 799,289. The stock's 50-day moving average price is $20.87 and its 200-day moving average price is $22.91. The stock has a market capitalization of $1.99 billion, a P/E ratio of 13.50 and a beta of 1.18. Pacific Premier Bancorp Inc has a 12-month low of $18.06 and a 12-month high of $30.28. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. The business had revenue of $144.83 million for the quarter, compared to analysts' expectations of $143.25 million. During the same period in the prior year, the firm posted $0.49 EPS. Equities research analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were given a dividend of $0.33 per share. The ex-dividend date was Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 6.44%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 86.84%.

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.