Raymond James Financial Inc. Sells 19,511 Shares of Pacific Premier Bancorp Inc $PPBI

Raymond James Financial Inc. lowered its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 330,374 shares of the financial services provider's stock after selling 19,511 shares during the period. Raymond James Financial Inc. owned approximately 0.34% of Pacific Premier Bancorp worth $7,043,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Pacific Premier Bancorp by 8,794.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock worth $34,000 after acquiring an additional 1,583 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock worth $49,000 after acquiring an additional 741 shares during the last quarter. KBC Group NV increased 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 acquiring an additional 546 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Pacific Premier Bancorp by 171.7% in the fourth quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock worth $162,000 after acquiring an additional 4,120 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Pacific Premier Bancorp in the fourth quarter worth $200,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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 that occurred on Tuesday, August 12th. The shares were sold at an average price of $22.54, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI remained flat at $24.49 during mid-day trading on Friday. 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 stock has a market cap of $2.38 billion, a PE ratio of 17.25 and a beta of 1.20. The business's 50 day moving average is $22.78 and its 200 day moving average is $21.79.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.05. The firm had revenue of $145.64 million during 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 quarter in the prior year, the business posted $0.43 earnings per share. As a group, research 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 business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. Pacific Premier Bancorp's dividend payout ratio (DPR) is currently 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.