Pacific Premier Bancorp Inc (NASDAQ:PPBI) Shares Sold by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. reduced its stake in Pacific Premier Bancorp Inc by 5.4%, selling 15,019 shares, leaving them with 261,877 shares valued at approximately $5.58 million.
• Pacific Premier Bancorp recently reported $0.39 earnings per share for the quarter, exceeding estimates by $0.05, but down from $0.43 EPS in the same quarter last year.
• The company's quarterly dividend of $0.33 per share will be paid on August 15th, providing a yield of 6.2% based on an annualized payout of $1.32.

Phocas Financial Corp. lessened its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 5.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 261,877 shares of the financial services provider's stock after selling 15,019 shares during the quarter. Phocas Financial Corp. owned about 0.27% of Pacific Premier Bancorp worth $5,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jacobs Asset Management LLC increased its stake in shares of Pacific Premier Bancorp by 0.5% during the fourth quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider's stock worth $2,097,000 after purchasing an additional 400 shares during the period. KBC Group NV increased its holdings in Pacific Premier Bancorp by 11.0% during the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after purchasing an additional 546 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in shares of Pacific Premier Bancorp by 2.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 25,250 shares of the financial services provider's stock worth $538,000 after acquiring an additional 546 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of Pacific Premier Bancorp by 4.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider's stock valued at $379,000 after purchasing an additional 591 shares during the period. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Pacific Premier Bancorp by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,025 shares of the financial services provider's stock valued at $250,000 after acquiring an additional 643 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Trading Down 1.0%

PPBI traded down $0.21 during trading on Thursday, reaching $21.30. The company had a trading volume of 262,058 shares, compared to its average volume of 877,745. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week 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 business has a 50 day simple moving average of $21.62 and a 200-day simple moving average of $22.07. The stock has a market cap of $2.07 billion, a P/E ratio of 14.97 and a beta of 1.19.

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, topping the consensus estimate of $0.34 by $0.05. The business had revenue of $145.64 million during the quarter, compared to the consensus estimate of $147.67 million. Pacific Premier Bancorp had a return on equity of 4.85% and a net margin of 16.13%. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio is presently 92.96%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. DA Davidson downgraded shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 22nd. They set a "sell" rating for the company.

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.