Graham Capital Management L.P. Raises Stock Holdings in Pacific Premier Bancorp Inc $PPBI

Key Points

• Graham Capital Management L.P. increased its stake in Pacific Premier Bancorp by 224.4%, acquiring a total of 72,759 shares valued at approximately $1.55 million.
• Pacific Premier Bancorp reported $0.39 EPS for the last quarter, exceeding analysts' expectations of $0.34, but with revenue falling short at $145.64 million against an expected $147.67 million.
• The company announced a $0.33 quarterly dividend, leading to an annualized yield of 5.4% and a dividend payout ratio of nearly 93%.

Graham Capital Management L.P. grew its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 224.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,759 shares of the financial services provider's stock after buying an additional 50,328 shares during the period. Graham Capital Management L.P. owned about 0.07% of Pacific Premier Bancorp worth $1,551,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in shares of Pacific Premier Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock worth $10,238,000 after purchasing an additional 12,542 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pacific Premier Bancorp during the 1st quarter valued at $352,000. GAMMA Investing LLC grew its holdings in shares of 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 worth $49,000 after acquiring an additional 741 shares during the last quarter. KBC Group NV grew its holdings in shares of Pacific Premier Bancorp by 11.0% in the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after acquiring an additional 546 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Pacific Premier Bancorp by 30.0% in the 1st quarter. Deutsche Bank AG now owns 116,419 shares of the financial services provider's stock worth $2,482,000 after acquiring an additional 26,888 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In related news, General Counsel Steven R. Arnold sold 5,000 shares of Pacific Premier Bancorp stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the sale, the general counsel owned 51,042 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $24.58 on Wednesday. The stock has a market cap of $2.38 billion, a PE ratio of 17.31 and a beta of 1.20. The business has a fifty day simple moving average of $22.57 and a 200-day simple moving average of $21.78. 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 Inc has a 12 month low of $18.06 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. The business had revenue of $145.64 million during the quarter, compared to analysts' expectations of $147.67 million. Pacific Premier Bancorp had a return on equity of 4.85% and a net margin of 16.13%.During the same quarter last year, the firm posted $0.43 earnings per share. On average, sell-side analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company 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 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 (DPR) is presently 92.96%.

Analyst Ratings Changes

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

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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