Pacific Premier Bancorp Inc $PPBI Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has reduced its stake in Pacific Premier Bancorp Inc by 37.5%, owning 44,125 shares valued at approximately $941,000 after the sale of 26,421 shares.
• Analyst ratings for Pacific Premier Bancorp are predominantly Hold, with a consensus target price of $27.50, and a recent report from Wall Street Zen designated it as a sell.
• The company recently announced a quarterly dividend of $0.33, resulting in an annualized yield of 5.4%, while its dividend payout ratio stands at 92.96%.

Quantbot Technologies LP lowered its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 37.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,125 shares of the financial services provider's stock after selling 26,421 shares during the quarter. Quantbot Technologies LP's holdings in Pacific Premier Bancorp were worth $941,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Pacific Premier Bancorp by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock valued at $10,238,000 after purchasing an additional 12,542 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Pacific Premier Bancorp during the first quarter valued at $352,000. GAMMA Investing LLC lifted its holdings in Pacific Premier Bancorp by 47.9% during the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 741 shares in the last quarter. KBC Group NV lifted its stake 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 buying an additional 546 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Pacific Premier Bancorp by 30.0% during the first quarter. Deutsche Bank AG now owns 116,419 shares of the financial services provider's stock worth $2,482,000 after purchasing an additional 26,888 shares during the last quarter. Institutional investors own 93.11% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen started coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating for the company. Two research 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.

Insider Buying and Selling at Pacific Premier Bancorp

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

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock traded up $0.08 on Friday, hitting $24.49. The company's stock had a trading volume of 19,566,748 shares, compared to its average volume of 1,010,763. 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 firm has a fifty day moving average price of $22.43 and a 200-day moving average price of $21.82. The company has a market capitalization 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 released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. The business had revenue of $145.64 million for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $0.43 EPS. On average, equities research analysts expect that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

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

Pacific Premier Bancorp Company 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.