Teacher Retirement System of Texas Acquires New Position in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Teacher Retirement System of Texas purchased a new stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 14,099 shares of the financial services provider's stock, valued at approximately $301,000.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock worth $49,000 after acquiring an additional 741 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Pacific Premier Bancorp by 729.4% during the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 2,655 shares in the last quarter. KBC Group NV lifted its stake in Pacific Premier Bancorp by 11.0% during the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after acquiring an additional 546 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Pacific Premier Bancorp by 171.7% during the 4th quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock worth $162,000 after purchasing an additional 4,120 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in Pacific Premier Bancorp during the fourth quarter valued at about $200,000. Institutional investors own 93.11% of the company's stock.

Insider Buying and Selling at Pacific Premier Bancorp

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

Pacific Premier Bancorp Trading Down 0.0%

Pacific Premier Bancorp stock traded down $0.01 during mid-day trading on Friday, hitting $22.10. The company's stock had a trading volume of 1,132,057 shares, compared to its average volume of 716,995. The company has a 50 day moving average of $21.63 and a 200-day moving average of $22.27. The stock has a market cap of $2.14 billion, a PE ratio of 14.54 and a beta of 1.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. Pacific Premier Bancorp Inc has a one year low of $18.06 and a one year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share 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 analysts' expectations of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. During the same period in the prior year, the business posted $0.49 EPS. On average, research 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 Monday, May 12th. Investors 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 yield of 5.97%. Pacific Premier Bancorp's payout ratio is 86.84%.

Wall Street Analyst Weigh In

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

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.