Russell Investments Group Ltd. Reduces Stock Holdings in Pacific Premier Bancorp Inc $PPBI

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. reduced its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,281 shares of the financial services provider's stock after selling 10,413 shares during the quarter. Russell Investments Group Ltd.'s holdings in Pacific Premier Bancorp were worth $1,029,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PPBI. Nuveen LLC acquired a new position in Pacific Premier Bancorp during the 1st quarter worth approximately $27,156,000. Azora Capital LP raised its stake in Pacific Premier Bancorp by 54.4% during the 4th quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock worth $18,635,000 after buying an additional 263,383 shares during the period. Millennium Management LLC raised its stake in Pacific Premier Bancorp by 50.2% during the 4th quarter. Millennium Management LLC now owns 687,180 shares of the financial services provider's stock worth $17,125,000 after buying an additional 229,821 shares during the period. Nuveen Asset Management LLC raised its stake 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 period. Finally, Invesco Ltd. raised its stake in Pacific Premier Bancorp by 5.0% during the 1st quarter. Invesco Ltd. now owns 2,358,441 shares of the financial services provider's stock worth $50,282,000 after buying an additional 111,641 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total value of $112,700.00. Following the completion of the transaction, the general counsel directly owned 51,042 shares of the company's stock, valued at $1,150,486.68. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.29% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock traded up $0.08 during trading on Monday, hitting $24.49. The company's stock had a trading volume of 19,566,748 shares, compared to its average volume of 1,924,856. 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 has a fifty day moving average of $22.43 and a 200-day moving average of $21.77. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. The company had revenue of $145.64 million during the quarter, compared to analyst estimates 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 company 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 year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders 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 annualized dividend and a dividend yield of 5.4%. Pacific Premier Bancorp's dividend payout ratio is currently 92.96%.

Analyst Ratings Changes

Separately, Wall Street Zen started coverage on Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating on the stock. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.