Ieq Capital LLC Boosts Stock Position in Pacific Premier Bancorp Inc $PPBI

Key Points

• Ieq Capital LLC increased its stake in Pacific Premier Bancorp Inc by 23.5% in the first quarter, owning approximately 0.45% of the company worth about $9.3 million.
• The company recently reported $0.39 earnings per share for the second quarter, surpassing expectations and reflecting a net margin of 16.13%.
• Pacific Premier Bancorp declared a quarterly dividend of $0.33 per share, resulting in a 5.4% yield for shareholders.

Ieq Capital LLC boosted its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 436,284 shares of the financial services provider's stock after acquiring an additional 83,005 shares during the period. Ieq Capital LLC owned 0.45% of Pacific Premier Bancorp worth $9,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PPBI. Invesco Ltd. boosted its stake in Pacific Premier Bancorp by 5.0% in the 1st quarter. Invesco Ltd. now owns 2,358,441 shares of the financial services provider's stock worth $50,282,000 after purchasing an additional 111,641 shares during the period. Victory Capital Management Inc. boosted its position in shares of Pacific Premier Bancorp by 2.6% in the first quarter. Victory Capital Management Inc. now owns 1,464,112 shares of the financial services provider's stock valued at $31,215,000 after acquiring an additional 37,267 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Pacific Premier Bancorp by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,362,284 shares of the financial services provider's stock valued at $29,044,000 after acquiring an additional 17,594 shares during the period. Nuveen LLC bought a new position in shares of Pacific Premier Bancorp in the first quarter valued at approximately $27,156,000. Finally, Nuveen Asset Management LLC boosted its position 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 valued at $23,487,000 after acquiring an additional 188,530 shares during the period. Institutional investors own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the 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 completion of the sale, the general counsel directly owned 51,042 shares of the company's stock, valued at $1,150,486.68. This trade represents a 8.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.29% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Stock Performance

PPBI traded up $0.17 during midday trading on Tuesday, hitting $24.58. 19,566,748 shares of the company traded hands, compared to its average volume of 1,924,856. 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 has a market capitalization of $2.38 billion, a PE ratio of 17.31 and a beta of 1.20. The company's 50-day moving average is $22.50 and its 200 day moving average is $21.77. 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 issued 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. 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 in the prior year, the business earned $0.43 EPS. On average, research analysts expect that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is 92.96%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating for the company. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Pacific Premier Bancorp 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.