Ieq Capital LLC Raises 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 grew its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 23.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 about 0.45% of Pacific Premier Bancorp worth $9,302,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in Pacific Premier Bancorp during the 1st quarter worth approximately $27,156,000. Azora Capital LP increased its stake in Pacific Premier Bancorp by 54.4% during the 4th quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock worth $18,635,000 after buying an additional 263,383 shares during the period. Millennium Management LLC increased its stake in Pacific Premier Bancorp by 50.2% during the 4th quarter. Millennium Management LLC now owns 687,180 shares of the financial services provider's stock worth $17,125,000 after buying an additional 229,821 shares during the period. Nuveen Asset Management LLC increased its stake in Pacific Premier Bancorp by 25.0% during the 4th quarter. Nuveen Asset Management LLC now owns 942,505 shares of the financial services provider's stock worth $23,487,000 after buying an additional 188,530 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in Pacific Premier Bancorp by 35.9% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 502,322 shares of the financial services provider's stock worth $10,710,000 after buying an additional 132,570 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,150,486.68. This trade represents a 8.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Stock Up 0.3%

Shares of Pacific Premier Bancorp stock traded up $0.08 during trading hours on Friday, hitting $24.49. The company had a trading volume of 19,566,748 shares, compared to its average volume of 1,010,763. The company's 50-day moving average is $22.43 and its two-hundred day moving average is $21.79. 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 current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $2.38 billion, a P/E ratio of 17.25 and a beta of 1.19.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $145.64 million during the quarter, compared to analysts' expectations of $147.67 million. During the same quarter in the prior year, the business posted $0.43 EPS. Analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm 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 of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 92.96%.

Analyst Ratings Changes

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

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.