Pacific Premier Bancorp Inc $PPBI Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has reduced its shareholding in Pacific Premier Bancorp Inc by 17.7%, selling 10,413 shares in the first quarter, leaving it with 48,281 shares valued at approximately $1,029,000.
• Several institutional investors have increased their stakes in Pacific Premier Bancorp, with GAMMA Investing LLC raising its position by 47.9% in the same quarter.
• The company recently announced a quarterly dividend of $0.33 per share, reflecting a 5.4% yield, while its payout ratio stands at 92.96%.

Russell Investments Group Ltd. lessened its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 17.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,281 shares of the financial services provider's stock after selling 10,413 shares during the period. Russell Investments Group Ltd.'s holdings in Pacific Premier Bancorp were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after buying an additional 741 shares during the period. KBC Group NV raised its holdings in shares of Pacific Premier Bancorp by 11.0% in the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after buying an additional 546 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Pacific Premier Bancorp by 171.7% in the 4th quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock valued at $162,000 after buying an additional 4,120 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at $200,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at $234,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Pacific Premier Bancorp Stock Performance

Shares of PPBI remained flat at $24.49 during mid-day trading on Wednesday. Pacific Premier Bancorp Inc has a 1 year low of $18.06 and a 1 year high of $30.28. The company has a market cap of $2.38 billion, a PE ratio of 17.25 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The business's 50-day moving average price is $22.64 and its two-hundred day moving average price is $21.80.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its 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. The firm had revenue of $145.64 million during the quarter, compared to analysts' expectations 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 in the prior year, the firm earned $0.43 EPS. Equities analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 92.96%.

Analyst Ratings Changes

Separately, Wall Street Zen began coverage on Pacific Premier Bancorp in a report 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 MarketBeat.com, Pacific Premier Bancorp currently has a consensus rating of "Hold" and a consensus target price of $27.50.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the sale, 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 position. The transaction 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 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.