Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Holdings Cut by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,913 shares of the financial services provider's stock after selling 11,781 shares during the period. Rhumbline Advisers owned about 0.31% of Pacific Premier Bancorp worth $6,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Pacific Premier Bancorp by 3,053.2% during the first quarter. GAMMA Investing LLC now owns 48,780 shares of the financial services provider's stock worth $1,040,000 after purchasing an additional 47,233 shares in the last quarter. Wellington Management Group LLP increased its stake in Pacific Premier Bancorp by 1.8% during the fourth quarter. Wellington Management Group LLP now owns 596,654 shares of the financial services provider's stock worth $14,869,000 after acquiring an additional 10,321 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Pacific Premier Bancorp in the fourth quarter valued at about $964,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pacific Premier Bancorp by 9.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,580 shares of the financial services provider's stock valued at $7,441,000 after purchasing an additional 24,535 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Pacific Premier Bancorp by 4.6% during the fourth quarter. Voloridge Investment Management LLC now owns 190,352 shares of the financial services provider's stock worth $4,744,000 after buying an additional 8,301 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Price Performance

PPBI stock traded down $0.19 during midday trading on Thursday, hitting $21.27. 696,193 shares of the stock were exchanged, compared to its average volume of 666,793. Pacific Premier Bancorp, Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $30.28. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 12.97 and a beta of 1.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock's 50-day moving average price is $20.72 and its 200-day moving average price is $23.25.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.07. The firm had revenue of $144.83 million during the quarter, compared to the consensus estimate of $143.25 million. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. During the same quarter in the prior year, the company earned $0.49 EPS. Research analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.21%. The ex-dividend date was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is 86.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PPBI. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating on the stock. DA Davidson lowered Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $27.25.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the completion of the sale, the chief operating officer now owns 140,283 shares in the company, valued at $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.29% of the stock is currently owned by corporate insiders.

About Pacific Premier Bancorp

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.