Pacific Premier Bancorp Inc $PPBI Shares Acquired by Hotchkis & Wiley Capital Management LLC

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 boosted its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 502,322 shares of the financial services provider's stock after buying 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 SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in Pacific Premier Bancorp by 10.6% in the first quarter. Wellington Management Group LLP now owns 660,041 shares of the financial services provider's stock worth $14,072,000 after buying an additional 63,387 shares during the last quarter. Versor Investments LP acquired a new position in Pacific Premier Bancorp in the first quarter worth approximately $2,028,000. Algert Global LLC grew its position in Pacific Premier Bancorp by 1.3% in the first quarter. Algert Global LLC now owns 291,101 shares of the financial services provider's stock worth $6,206,000 after buying an additional 3,750 shares during the last quarter. Cresset Asset Management LLC grew its position in Pacific Premier Bancorp by 9.1% in the first quarter. Cresset Asset Management LLC now owns 10,251 shares of the financial services provider's stock worth $219,000 after buying an additional 853 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in Pacific Premier Bancorp in the first quarter worth approximately $733,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of Pacific Premier Bancorp stock in a transaction that occurred on 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. The trade was a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Trading Up 6.7%

NASDAQ PPBI opened at $24.31 on Friday. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 17.12 and a beta of 1.19. The firm's 50 day moving average price is $22.02 and its two-hundred day moving average price is $21.84.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $145.64 million for the quarter, compared to analysts' expectations of $147.67 million. During the same period in the previous year, the company posted $0.43 EPS. Equities analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed 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 5.4%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp's payout ratio is presently 92.96%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued a "sell" rating on the stock. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.50.

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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