Nuveen LLC Takes Position in Pacific Premier Bancorp Inc $PPBI

Nuveen LLC acquired a new stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,273,717 shares of the financial services provider's stock, valued at approximately $27,156,000. Nuveen LLC owned approximately 1.31% of Pacific Premier Bancorp at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew 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 valued at $49,000 after buying an additional 741 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Pacific Premier Bancorp by 729.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after buying an additional 2,655 shares during the period. KBC Group NV boosted its stake in shares of Pacific Premier Bancorp by 11.0% in the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after buying an additional 546 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Pacific Premier Bancorp by 171.7% in the fourth quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock valued at $162,000 after buying an additional 4,120 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at approximately $200,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 stock was 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 of the company's stock, valued at approximately $1,150,486.68. This trade represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen assumed coverage on Pacific Premier Bancorp in a report on Thursday, May 22nd. They set a "sell" rating on the stock. DA Davidson lowered Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $27.50.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI traded down $0.3710 during trading hours on Thursday, hitting $22.6990. The company's stock had a trading volume of 289,703 shares, compared to its average volume of 867,917. The stock has a fifty day simple moving average of $21.92 and a 200-day simple moving average of $21.90. The company has a market capitalization of $2.20 billion, a P/E ratio of 16.00 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $145.64 million for the quarter, compared to analyst estimates 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 last year, the firm posted $0.43 earnings per share. On average, analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.32 annualized dividend and a yield of 5.8%. Pacific Premier Bancorp's dividend payout ratio (DPR) is 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.