Hotchkis & Wiley Capital Management LLC Has $10.71 Million Position in Pacific Premier Bancorp Inc $PPBI

Key Points

• Hotchkis & Wiley Capital Management LLC increased its holdings in Pacific Premier Bancorp by 35.9%, now owning 502,322 shares valued at approximately $10.7 million.
• Pacific Premier Bancorp recently announced a quarterly dividend of $0.33 per share, leading to an annualized dividend of $1.32 and a dividend yield of 5.4%.
• The company reported earnings per share of $0.39 for the last quarter, exceeding expectations and indicating a net margin of 16.13% despite a revenue shortfall.

Hotchkis & Wiley Capital Management LLC increased its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 35.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 502,322 shares of the financial services provider's stock after purchasing an additional 132,570 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.52% of Pacific Premier Bancorp worth $10,710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PPBI. Nuveen LLC purchased a new position in shares of Pacific Premier Bancorp in the first quarter valued at $27,156,000. Beacon Pointe Advisors LLC bought a new position in Pacific Premier Bancorp during the 4th quarter valued at $7,798,000. Azora Capital LP boosted its stake in Pacific Premier Bancorp by 54.4% during the 4th quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock valued at $18,635,000 after acquiring an additional 263,383 shares during the last quarter. Millennium Management LLC boosted its stake in Pacific Premier Bancorp by 50.2% during the 4th quarter. Millennium Management LLC now owns 687,180 shares of the financial services provider's stock valued at $17,125,000 after acquiring an additional 229,821 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Pacific Premier Bancorp by 25.0% during the 4th 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 last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock traded up $0.48 during trading hours on Friday, reaching $24.89. The stock had a trading volume of 770,273 shares, compared to its average volume of 890,014. 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. The firm has a 50-day simple moving average of $22.35 and a 200-day simple moving average of $21.83. The firm has a market capitalization of $2.41 billion, a PE ratio of 17.53 and a beta of 1.19.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. The firm had revenue of $145.64 million for the quarter, compared to analysts' expectations of $147.67 million. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. During the same quarter last year, the company earned $0.43 EPS. As a group, equities analysts forecast that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 92.96%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen started coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 22nd. They set a "sell" rating on the stock. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $27.50.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $22.54, for a total value of $112,700.00. Following the completion of the transaction, the general counsel directly owned 51,042 shares in the company, valued at $1,150,486.68. This trade represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.29% of the stock is currently owned by insiders.

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.