Two Sigma Investments LP Sells 32,357 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Two Sigma Investments LP lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 284,956 shares of the financial services provider's stock after selling 32,357 shares during the period. Two Sigma Investments LP owned approximately 0.30% of Pacific Premier Bancorp worth $7,101,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Rafferty Asset Management LLC boosted its stake in Pacific Premier Bancorp by 4.5% during the 4th quarter. Rafferty Asset Management LLC now owns 115,865 shares of the financial services provider's stock worth $2,887,000 after acquiring an additional 4,988 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in 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 worth $162,000 after purchasing an additional 4,120 shares during the period. ProShare Advisors LLC raised its holdings in Pacific Premier Bancorp by 44.4% in the fourth quarter. ProShare Advisors LLC now owns 28,890 shares of the financial services provider's stock worth $720,000 after purchasing an additional 8,887 shares during the period. Quantinno Capital Management LP bought a new position in shares of Pacific Premier Bancorp during the fourth quarter worth $200,000. Finally, Nuveen Asset Management LLC grew its stake in Pacific Premier Bancorp by 25.0% in the fourth quarter. Nuveen Asset Management LLC now owns 942,505 shares of the financial services provider's stock valued at $23,487,000 after acquiring an additional 188,530 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the firm's 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 transaction, the chief operating officer now directly owns 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Stock Down 1.8%

Shares of Pacific Premier Bancorp stock traded down $0.38 during trading hours on Wednesday, reaching $21.17. 637,376 shares of the company's stock were exchanged, compared to its average volume of 649,199. The company has a 50 day moving average of $20.73 and a two-hundred day moving average of $23.73. Pacific Premier Bancorp, Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $30.28. 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 cap of $2.05 billion, a P/E ratio of 12.91 and a beta of 1.18.

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

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 annualized dividend and a yield of 6.24%. Pacific Premier Bancorp's dividend payout ratio is currently 86.84%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Pacific Premier Bancorp has an average rating of "Hold" and an average target price of $27.25.

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.