Jacobs Asset Management LLC Has $1.07 Million Holdings in 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 decreased its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 40.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the financial services provider's stock after selling 34,154 shares during the quarter. Pacific Premier Bancorp makes up about 0.7% of Jacobs Asset Management LLC's holdings, making the stock its 28th biggest position. Jacobs Asset Management LLC owned approximately 0.05% of Pacific Premier Bancorp worth $1,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of Pacific Premier Bancorp by 2.5% during 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. Hexagon Capital Partners LLC raised 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 valued at $538,000 after purchasing an additional 546 shares in the last quarter. KBC Group NV raised 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 valued at $117,000 after purchasing an additional 546 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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 period. Finally, Cresset Asset Management LLC raised its holdings in Pacific Premier Bancorp by 9.1% in the 1st quarter. Cresset Asset Management LLC now owns 10,251 shares of the financial services provider's stock worth $219,000 after acquiring an additional 853 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock traded up $0.08 during trading on Friday, hitting $24.49. 19,566,748 shares of the company's stock traded hands, compared to its average volume of 1,010,763. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The firm's fifty day moving average price is $22.43 and its 200 day moving average price is $21.79. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28. The company has a market cap of $2.38 billion, a PE ratio of 17.25 and a beta of 1.19.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating 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 business had revenue of $145.64 million for the quarter, compared to analyst estimates of $147.67 million. During the same period in the previous year, the business earned $0.43 EPS. Analysts forecast that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

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

Insider Buying and Selling at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of Pacific Premier Bancorp 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 sale, the general counsel directly owned 51,042 shares in the company, valued at approximately $1,150,486.68. The trade was a 8.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.29% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 22nd. They issued a "sell" rating on the stock. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average 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.