Squarepoint Ops LLC Boosts Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Squarepoint Ops LLC increased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 252.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 31,435 shares of the financial services provider's stock after buying an additional 22,509 shares during the quarter. Squarepoint Ops LLC's holdings in Pacific Premier Bancorp were worth $783,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PPBI. Raymond James Financial Inc. bought a new stake in Pacific Premier Bancorp in the 4th quarter worth about $8,720,000. Beacon Pointe Advisors LLC purchased a new position in Pacific Premier Bancorp in the fourth quarter worth about $7,798,000. Azora Capital LP boosted its position in Pacific Premier Bancorp by 54.4% in the fourth quarter. Azora Capital LP now owns 747,779 shares of the financial services provider's stock worth $18,635,000 after purchasing an additional 263,383 shares during the last quarter. Invesco Ltd. boosted its position in Pacific Premier Bancorp by 12.1% in the fourth quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider's stock worth $55,990,000 after purchasing an additional 241,881 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Pacific Premier Bancorp by 50.2% in the fourth quarter. Millennium Management LLC now owns 687,180 shares of the financial services provider's stock worth $17,125,000 after purchasing an additional 229,821 shares during the last quarter. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock traded down $0.42 during trading hours on Wednesday, reaching $20.73. 617,314 shares of the company traded hands, compared to its average volume of 658,327. Pacific Premier Bancorp, Inc. has a 12-month low of $18.06 and a 12-month high of $30.28. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $2.01 billion, a P/E ratio of 12.64 and a beta of 1.18. The firm has a 50-day moving average price of $20.66 and a 200 day moving average price of $23.49.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. The firm had revenue of $144.83 million for the quarter, compared to analysts' expectations of $143.25 million. During the same period in the previous year, the firm earned $0.49 EPS. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were given a dividend of $0.33 per share. The ex-dividend date was Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.37%. Pacific Premier Bancorp's payout ratio is currently 86.84%.

Insider Activity

In related news, COO Edward Earl Wilcox sold 14,500 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the transaction, the chief operating officer now directly owns 140,283 shares of the company's stock, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PPBI. Wall Street Zen began coverage on Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued a "sell" rating on the stock. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Pacific Premier Bancorp presently has an average rating of "Hold" and an average target price of $27.25.

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.