Dimensional Fund Advisors LP Lowers Holdings in Pacific Premier Bancorp Inc $PPBI

Key Points

• Dimensional Fund Advisors LP reduced its stake in Pacific Premier Bancorp Inc. by 0.9%, currently holding approximately 5.93% of the company, valued at $122.69 million.
• Pacific Premier Bancorp reported Q2 earnings of $0.39 per share, exceeding estimates, but experienced a decline in revenue compared to expectations.
• The company declared a quarterly dividend of $0.33 per share, representing a 5.8% yield with a payout ratio of 92.96%.

Dimensional Fund Advisors LP decreased its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,755,015 shares of the financial services provider's stock after selling 51,848 shares during the period. Dimensional Fund Advisors LP owned about 5.93% of Pacific Premier Bancorp worth $122,694,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PPBI. Caitong International Asset Management Co. Ltd grew its holdings 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 grew its holdings 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. Sterling Capital Management LLC grew its holdings in shares of Pacific Premier Bancorp by 729.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock worth $75,000 after acquiring an additional 2,655 shares during the period. KBC Group NV grew its holdings 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. Finally, Point72 Asset Management L.P. grew its holdings 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. Institutional investors own 93.11% of the company's stock.

Insider Activity at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total value of $112,700.00. Following the transaction, the general counsel directly owned 51,042 shares in the company, valued at $1,150,486.68. The trade was a 8.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI traded up $0.28 on Wednesday, hitting $24.63. 2,868,329 shares of the company traded hands, compared to its average volume of 861,541. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 17.35 and a beta of 1.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The business's 50 day moving average price is $22.27 and its 200-day moving average price is $21.83. Pacific Premier Bancorp Inc has a 52-week low of $18.06 and a 52-week high of $30.28.

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

Pacific Premier Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp's payout ratio is presently 92.96%.

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.