Trexquant Investment LP Buys 217,421 Shares of Pacific Premier Bancorp Inc $PPBI

Key Points

• Trexquant Investment LP significantly increased its holdings in Pacific Premier Bancorp Inc by 844.8% during the first quarter, owning 243,158 shares worth approximately $5.18 million.
• The company reported earnings per share of $0.39 for the last quarter, surpassing analyst estimates of $0.34, while also announcing a quarterly dividend of $0.33 per share with a yield of 5.4%.
• Currently, institutional investors own approximately 93.11% of Pacific Premier Bancorp's stock, indicating strong institutional confidence in the company.

Trexquant Investment LP grew its stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 844.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 243,158 shares of the financial services provider's stock after buying an additional 217,421 shares during the quarter. Trexquant Investment LP owned approximately 0.25% of Pacific Premier Bancorp worth $5,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PPBI. Nuveen LLC bought a new stake in shares of Pacific Premier Bancorp in the first quarter worth $27,156,000. Azora Capital LP grew its stake in shares of Pacific Premier Bancorp by 54.4% in the fourth quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock worth $18,635,000 after purchasing an additional 263,383 shares during the last quarter. Millennium Management LLC grew its stake in shares of Pacific Premier Bancorp by 50.2% in the fourth quarter. Millennium Management LLC now owns 687,180 shares of the financial services provider's stock worth $17,125,000 after purchasing an additional 229,821 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of 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 worth $23,487,000 after purchasing an additional 188,530 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of Pacific Premier Bancorp by 35.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 502,322 shares of the financial services provider's stock worth $10,710,000 after purchasing an additional 132,570 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI remained flat at $24.49 during trading hours on Friday. Pacific Premier Bancorp Inc has a 12-month low of $18.06 and a 12-month high of $30.28. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.25 and a beta of 1.20. The firm has a 50 day moving average price of $22.78 and a two-hundred day moving average price of $21.77. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.05. The company had revenue of $145.64 million during 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 period last year, the company posted $0.43 EPS. As a group, 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 announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued 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 5.4%. Pacific Premier Bancorp's payout ratio is 92.96%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of Pacific Premier Bancorp 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 of the company's stock, valued at approximately $1,150,486.68. The trade was a 8.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.29% of the company's stock.

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.