Quantbot Technologies LP Trims Stock Holdings in Pacific Premier Bancorp Inc $PPBI

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 reduced its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 37.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of 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 valued at $50,282,000 after purchasing an additional 111,641 shares during the last quarter. Victory Capital Management Inc. raised its position in Pacific Premier Bancorp by 2.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,464,112 shares of the financial services provider's stock worth $31,215,000 after buying an additional 37,267 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Pacific Premier Bancorp by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,362,284 shares of the financial services provider's stock worth $29,044,000 after buying an additional 17,594 shares during the last quarter. Nuveen LLC purchased a new position in Pacific Premier Bancorp during the 1st quarter worth approximately $27,156,000. Finally, Nuveen Asset Management LLC raised its position 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 last quarter. 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 Pacific Premier Bancorp 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 sale, the general counsel owned 51,042 shares of the company's stock, valued at $1,150,486.68. The trade was a 8.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.29% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock traded up $0.36 during trading on Friday, reaching $24.77. The company had a trading volume of 466,936 shares, compared to its average volume of 888,203. The firm's 50-day simple moving average is $22.35 and its 200 day simple moving average is $21.83. Pacific Premier Bancorp Inc has a 1-year low of $18.06 and a 1-year high of $30.28. The firm has a market capitalization of $2.40 billion, a PE ratio of 17.42 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $145.64 million for the quarter, compared to analysts' expectations of $147.67 million. During the same quarter last year, the company earned $0.43 EPS. As a group, equities research analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's payout ratio is 92.96%.

Wall Street Analysts Forecast Growth

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

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.