TD Asset Management Inc Trims Stock Position in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Key Points

• TD Asset Management Inc reduced its stake in Pacific Premier Bancorp by 58.0%, holding 30,616 shares worth approximately $653,000 as of its latest SEC filing.
• Analysts at DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" to a "hold" rating, while Wall Street Zen initiated coverage with a "sell" rating.
• The company recently announced a quarterly dividend of $0.33, which signifies an annual yield of 6.1% and a payout ratio of 92.96%.

TD Asset Management Inc lessened its holdings in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 58.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,616 shares of the financial services provider's stock after selling 42,314 shares during the period. TD Asset Management Inc's holdings in Pacific Premier Bancorp were worth $653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PPBI. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 47.9% during the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock worth $49,000 after purchasing an additional 741 shares during the last quarter. Sterling Capital Management LLC grew its position in Pacific Premier Bancorp by 729.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after buying an additional 2,655 shares during the period. KBC Group NV grew its position in Pacific Premier Bancorp by 11.0% during the first 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. grew its position in Pacific Premier Bancorp by 171.7% during the fourth 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. Finally, Quantinno Capital Management LP acquired a new stake in Pacific Premier Bancorp during the fourth quarter valued at $200,000. Hedge funds and other institutional investors own 93.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PPBI. DA Davidson lowered shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating on the stock.

Pacific Premier Bancorp Stock Up 2.6%

Shares of NASDAQ PPBI opened at $21.73 on Tuesday. The company's 50-day simple moving average is $21.61 and its 200-day simple moving average is $22.08. Pacific Premier Bancorp Inc has a 52-week low of $18.06 and a 52-week high of $30.28. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 15.30 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04.

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 the consensus estimate of $0.34 by $0.05. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. The business had revenue of $145.64 million for the quarter, compared to analyst estimates of $147.67 million. During the same quarter last year, the business earned $0.43 earnings per share. Equities analysts predict that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a $0.33 dividend. The ex-dividend date is Tuesday, August 5th. This represents a $1.32 annualized dividend and a dividend yield of 6.1%. Pacific Premier Bancorp's dividend payout ratio (DPR) is 92.96%.

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.

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