Pacific Premier Bancorp Inc (NASDAQ:PPBI) Shares Bought by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board increased its holdings in Pacific Premier Bancorp by 27.3%, owning 305,806 shares worth approximately $6.52 million at the end of the most recent reporting period.
• Pacific Premier Bancorp reported $0.39 earnings per share for the last quarter, exceeding analyst estimates, but its revenue fell short at $145.64 million.
• The company announced a quarterly dividend of $0.33 per share, representing an annualized yield of 5.7%, with a high dividend payout ratio of 92.96%.

Public Sector Pension Investment Board grew its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 27.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 305,806 shares of the financial services provider's stock after buying an additional 65,487 shares during the period. Public Sector Pension Investment Board owned 0.32% of Pacific Premier Bancorp worth $6,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 47.9% in the first 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 during the last quarter. Sterling Capital Management LLC raised its holdings 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 last quarter. KBC Group NV raised its holdings 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 last quarter. Point72 Asset Management L.P. raised its holdings 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 last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at about $200,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPBI has been the subject of several analyst reports. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 22nd. They set a "sell" rating for the company. DA Davidson cut shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the company's 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 transaction, the general counsel directly owned 51,042 shares in the company, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Trading Down 1.9%

Shares of PPBI opened at $23.12 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The firm's 50-day moving average is $21.83 and its two-hundred day moving average is $21.96. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28. The firm has a market capitalization of $2.24 billion, a P/E ratio of 16.28 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, topping 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 company had revenue of $145.64 million for the quarter, compared to analyst estimates of $147.67 million. During the same period in the prior year, the business posted $0.43 earnings per share. On average, research analysts predict that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.7%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp's dividend 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.

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