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

Man Group plc decreased its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225,535 shares of the financial services provider's stock after selling 23,496 shares during the quarter. Man Group plc owned about 0.23% of Pacific Premier Bancorp worth $5,620,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its position in Pacific Premier Bancorp by 158.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after buying an additional 1,853 shares in the last quarter. Sterling Capital Management LLC lifted its position in Pacific Premier Bancorp by 729.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after buying an additional 2,655 shares in the last quarter. KBC Group NV lifted its position in 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 worth $123,000 after buying an additional 1,276 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth approximately $158,000. Finally, Kestra Investment Management LLC purchased a new position in Pacific Premier Bancorp during the fourth quarter worth approximately $220,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Insider Activity

In other news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the sale, the chief operating officer now directly owns 140,283 shares of the company's stock, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Trading Down 0.6%

PPBI stock traded down $0.12 during midday trading on Friday, hitting $21.05. 914,361 shares of the company's stock were exchanged, compared to its average volume of 648,211. The business has a 50-day simple moving average of $20.77 and a two-hundred day simple moving average of $23.88. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $2.04 billion, a PE ratio of 12.84 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a 1-year low of $18.06 and a 1-year high of $30.28.

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

Pacific Premier Bancorp Dividend Announcement

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

Analysts Set New Price Targets

PPBI has been the topic of a number of analyst reports. DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. Wall Street Zen started coverage on Pacific Premier Bancorp in a research note on Thursday. They set a "sell" rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $27.25.

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.