Vanguard Group Inc. Sells 213,398 Shares of Pacific Premier Bancorp Inc $PPBI

Key Points

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Vanguard Group Inc. cut its holdings in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,028,096 shares of the financial services provider's stock after selling 213,398 shares during the period. Vanguard Group Inc. owned 11.36% of Pacific Premier Bancorp worth $235,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. LPL Financial LLC boosted its stake in Pacific Premier Bancorp by 5.5% in the fourth quarter. LPL Financial LLC now owns 22,850 shares of the financial services provider's stock valued at $569,000 after acquiring an additional 1,194 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Pacific Premier Bancorp by 19.7% in the 4th quarter. Wells Fargo & Company MN now owns 101,874 shares of the financial services provider's stock valued at $2,539,000 after purchasing an additional 16,780 shares during the period. Renaissance Technologies LLC boosted its position in shares of Pacific Premier Bancorp by 33.1% in the 4th quarter. Renaissance Technologies LLC now owns 175,538 shares of the financial services provider's stock worth $4,374,000 after purchasing an additional 43,610 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of 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 worth $75,000 after purchasing an additional 2,655 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Pacific Premier Bancorp by 4.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider's stock worth $379,000 after purchasing an additional 591 shares during the period. Institutional investors and hedge funds own 93.11% of the company's stock.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the firm's stock in a transaction that occurred on 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 sale, the general counsel directly owned 51,042 shares in the company, valued at $1,150,486.68. This trade represents a 8.92% decrease in their ownership of the stock. The sale 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 Down 1.2%

PPBI traded down $0.28 during trading on Thursday, reaching $22.79. The company had a trading volume of 659,699 shares, compared to its average volume of 870,347. The company has a market cap of $2.21 billion, a P/E ratio of 16.05 and a beta of 1.19. 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 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The business's fifty day moving average price is $21.92 and its 200 day moving average price is $21.90.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.34 by $0.05. The business had revenue of $145.64 million for the quarter, compared to analysts' expectations of $147.67 million. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. During the same period in the previous year, the firm posted $0.43 EPS. Equities analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.8%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 92.96%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PPBI. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a 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 issued a "sell" rating on the stock. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Pacific Premier Bancorp has an average rating of "Hold" and a consensus target price of $27.50.

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.