Hsbc Holdings PLC Trims Stock Position in Pacific Premier Bancorp Inc $PPBI

Key Points

• Hsbc Holdings PLC has reduced its stake in Pacific Premier Bancorp by 37.7%, leaving it with 28,889 shares worth approximately $616,000.
• Insiders, including General Counsel Steven R. Arnold, have also engaged in selling shares, with Arnold selling 5,000 shares for around $112,700.
• The stock has been rated as a Hold by analysts, with a consensus target price of $27.50 amidst a recent quarterly dividend announcement of $0.33 per share, which equates to a 5.4% yield.

Hsbc Holdings PLC trimmed its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 37.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,889 shares of the financial services provider's stock after selling 17,481 shares during the period. Hsbc Holdings PLC's holdings in Pacific Premier Bancorp were worth $616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of Pacific Premier Bancorp by 1.9% in the 4th quarter. First Trust Advisors LP now owns 95,397 shares of the financial services provider's stock valued at $2,377,000 after purchasing an additional 1,761 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at approximately $551,000. Algert Global LLC grew its position in shares of Pacific Premier Bancorp by 22.5% during the fourth quarter. Algert Global LLC now owns 287,351 shares of the financial services provider's stock worth $7,161,000 after acquiring an additional 52,735 shares during the last quarter. Azora Capital LP grew its position in shares of Pacific Premier Bancorp by 54.4% during the fourth quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock worth $18,635,000 after acquiring an additional 263,383 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter valued at $365,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the business'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 $1,150,486.68. The trade was a 8.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating for the company. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Pacific Premier Bancorp has a consensus rating of "Hold" and a consensus target price of $27.50.

Pacific Premier Bancorp Trading Up 0.3%

NASDAQ:PPBI opened at $24.49 on Monday. Pacific Premier Bancorp Inc has a 12-month low of $18.06 and a 12-month high of $30.28. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The stock's 50 day simple moving average is $22.43 and its 200-day simple moving average is $21.77. The firm has a market cap 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 posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm posted $0.43 EPS. Equities analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. Pacific Premier Bancorp's payout ratio is presently 92.96%.

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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