Pacific Premier Bancorp Inc $PPBI Shares Sold by Vanguard Group Inc.

Key Points

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Vanguard Group Inc. trimmed its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,028,096 shares of the financial services provider's stock after selling 213,398 shares during the quarter. Vanguard Group Inc. owned 11.36% of Pacific Premier Bancorp worth $235,119,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Beacon Pointe Advisors LLC purchased a new stake in shares of Pacific Premier Bancorp during the 4th quarter worth about $7,798,000. Azora Capital LP boosted its stake in shares of 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 acquiring an additional 263,383 shares in the last quarter. Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 229,821 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of 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 acquiring an additional 188,530 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Pacific Premier Bancorp during the 4th quarter worth about $2,056,000. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, General Counsel Steven R. Arnold sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the transaction, the general counsel owned 51,042 shares in the company, valued at $1,150,486.68. This represents a 8.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.29% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Price Performance

Shares of PPBI traded up $1.52 during mid-day trading on Friday, hitting $24.31. 1,077,921 shares of the company were exchanged, compared to its average volume of 919,478. Pacific Premier Bancorp Inc has a 1-year low of $18.06 and a 1-year high of $30.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The company has a 50 day moving average of $22.02 and a 200-day moving average of $21.84. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 17.12 and a beta of 1.19.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping 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 firm had revenue of $145.64 million during the quarter, compared to the consensus estimate of $147.67 million. During the same quarter in the prior year, the firm earned $0.43 EPS. Analysts expect that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating on the stock. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Pacific Premier Bancorp has a consensus rating of "Hold" and a consensus price target of $27.50.

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.