Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Man Group plc

Man Group plc cut its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 225,535 shares of the financial services provider's stock after selling 23,496 shares during the period. Man Group plc owned about 0.23% of Pacific Premier Bancorp worth $5,620,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PPBI. Barclays PLC lifted its stake in shares of Pacific Premier Bancorp by 71.4% during the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider's stock valued at $5,123,000 after buying an additional 84,859 shares in the last quarter. Franklin Resources Inc. bought a new position in Pacific Premier Bancorp in the 3rd quarter worth approximately $784,000. SG Americas Securities LLC grew its holdings in Pacific Premier Bancorp by 487.9% during the 4th quarter. SG Americas Securities LLC now owns 29,714 shares of the financial services provider's stock valued at $740,000 after buying an additional 24,660 shares in the last quarter. KBC Group NV raised its position in shares of Pacific Premier Bancorp by 34.7% during the fourth quarter. KBC Group NV now owns 4,955 shares of the financial services provider's stock valued at $123,000 after buying an additional 1,276 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at approximately $158,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on PPBI. Wall Street Zen assumed coverage on Pacific Premier Bancorp in a report on Thursday. They issued a "sell" rating on the stock. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Pacific Premier Bancorp presently has a consensus rating of "Hold" and an average target price of $27.25.

Insiders Place Their Bets

In other news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the completion of the transaction, the chief operating officer now directly owns 140,283 shares of the company's stock, valued at $2,844,939.24. The trade was a 9.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.29% of the stock is currently owned by insiders.

Pacific Premier Bancorp Stock Down 0.6%

PPBI stock traded down $0.12 during trading on Monday, reaching $21.05. 914,361 shares of the company traded hands, compared to its average volume of 648,690. The business has a 50 day simple moving average of $20.75 and a 200 day simple moving average of $23.79. Pacific Premier Bancorp, Inc. has a 12 month low of $18.06 and a 12 month high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 12.84 and a beta of 1.18.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. The business had revenue of $144.83 million for the quarter, compared to the consensus estimate of $143.25 million. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were paid a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a yield of 6.27%. Pacific Premier Bancorp's dividend payout ratio (DPR) is 86.84%.

Pacific Premier Bancorp Company 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.