Trexquant Investment LP Increases Position in 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 position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 844.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 243,158 shares of the financial services provider's stock after acquiring an additional 217,421 shares during the period. Trexquant Investment LP owned about 0.25% of Pacific Premier Bancorp worth $5,184,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Pacific Premier Bancorp by 8,794.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock worth $34,000 after acquiring an additional 1,583 shares during the period. GAMMA Investing LLC raised its position 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 worth $49,000 after acquiring an additional 741 shares during the period. KBC Group NV raised its position 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 worth $117,000 after acquiring an additional 546 shares during the period. Point72 Asset Management L.P. raised its position 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 worth $162,000 after acquiring an additional 4,120 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth about $200,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In related 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 completion of the sale, the general counsel owned 51,042 shares of the company's stock, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.29% of the company's stock.

Analyst Upgrades and Downgrades

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

Pacific Premier Bancorp Stock Performance

Shares of PPBI remained flat at $24.49 during mid-day trading on Wednesday. Pacific Premier Bancorp Inc has a 1 year low of $18.06 and a 1 year high of $30.28. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The firm's 50 day simple moving average is $22.64 and its 200 day simple moving average is $21.80. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 17.25 and a beta of 1.20.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly 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 firm had revenue of $145.64 million during the quarter, compared to the consensus estimate of $147.67 million. During the same quarter in the prior year, the firm earned $0.43 EPS. Equities analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio is currently 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.