Jacobs Asset Management LLC Sells 34,154 Shares of Pacific Premier Bancorp Inc $PPBI

Key Points

• Jacobs Asset Management LLC has reduced its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 40.6% in the first quarter, owning 50,000 shares after selling 34,154 shares.
• Pacific Premier Bancorp reported a net margin of 16.13% and earnings of $0.39 per share for the last quarter, beating analyst estimates by $0.05.
• The company recently declared a quarterly dividend of $0.33 per share, representing an annual yield of 5.4%.

Jacobs Asset Management LLC cut its holdings in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 40.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the financial services provider's stock after selling 34,154 shares during the period. Pacific Premier Bancorp makes up 0.7% of Jacobs Asset Management LLC's holdings, making the stock its 28th biggest holding. Jacobs Asset Management LLC owned 0.05% of Pacific Premier Bancorp worth $1,066,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Walleye Capital LLC acquired a new position in Pacific Premier Bancorp during the 1st quarter valued at about $546,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Pacific Premier Bancorp by 3.0% in the first quarter. Campbell & CO Investment Adviser LLC now owns 125,703 shares of the financial services provider's stock valued at $2,680,000 after purchasing an additional 3,691 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Pacific Premier Bancorp by 35.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 502,322 shares of the financial services provider's stock valued at $10,710,000 after purchasing an additional 132,570 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Pacific Premier Bancorp by 10.6% during the first quarter. Wellington Management Group LLP now owns 660,041 shares of the financial services provider's stock valued at $14,072,000 after buying an additional 63,387 shares during the last quarter. Finally, Versor Investments LP bought a new stake in Pacific Premier Bancorp during the first quarter worth $2,028,000. Institutional investors own 93.11% of the company's stock.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 in the company, valued at $1,150,486.68. This trade represents a 8.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.29% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI traded down $0.22 during trading on Thursday, reaching $24.41. The company's stock had a trading volume of 1,936,888 shares, compared to its average volume of 958,282. Pacific Premier Bancorp Inc has a 12 month low of $18.06 and a 12 month high of $30.28. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 17.19 and a beta of 1.19. The firm has a 50 day moving average of $22.35 and a 200-day moving average of $21.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its 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. The company had revenue of $145.64 million for 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 period in the previous year, the business posted $0.43 EPS. Research 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 announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp's payout ratio is presently 92.96%.

About Pacific Premier Bancorp

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.