25,594 Shares in Pacific Premier Bancorp Inc $PPBI Bought by Walleye Capital LLC

Key Points

• Walleye Capital LLC acquired a new position in Pacific Premier Bancorp Inc, purchasing 25,594 shares valued at approximately $546,000 during the first quarter.
• Pacific Premier Bancorp recently announced a quarterly dividend of $0.33, which represents an annualized yield of 5.4%.
• The firm reported earnings of $0.39 per share for the last quarter, surpassing analysts' expectations of $0.34, while also announcing total revenue of $145.64 million.

Walleye Capital LLC acquired a new stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 25,594 shares of the financial services provider's stock, valued at approximately $546,000.

Other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of Pacific Premier Bancorp by 1.9% in the 4th quarter. First Trust Advisors LP now owns 95,397 shares of the financial services provider's stock valued at $2,377,000 after purchasing an additional 1,761 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at about $551,000. Algert Global LLC lifted its stake in shares of Pacific Premier Bancorp by 22.5% in the fourth quarter. Algert Global LLC now owns 287,351 shares of the financial services provider's stock valued at $7,161,000 after buying an additional 52,735 shares during the period. Brevan Howard Capital Management LP acquired a new position in Pacific Premier Bancorp during the fourth quarter worth $365,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Pacific Premier Bancorp by 68.3% during the 4th quarter. Cubist Systematic Strategies LLC now owns 141,003 shares of the financial services provider's stock worth $3,514,000 after purchasing an additional 57,228 shares in the last quarter. 93.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating on the stock. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Pacific Premier Bancorp presently has an average rating of "Hold" and a consensus target price of $27.50.

Pacific Premier Bancorp Price Performance

PPBI remained flat at $24.49 during trading on Wednesday. The company has a market cap of $2.38 billion, a P/E ratio of 17.25 and a beta of 1.20. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28. The business has a 50 day moving average of $22.64 and a 200 day moving average of $21.80.

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 for the quarter, topping analysts' consensus estimates 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 analyst estimates of $147.67 million. During the same period in the prior year, the business earned $0.43 EPS. As a group, equities research analysts predict that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared 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. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 92.96%.

Insiders Place Their Bets

In related news, General Counsel Steven R. Arnold sold 5,000 shares of Pacific Premier Bancorp stock in a transaction that occurred on Tuesday, August 12th. The stock was 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 of the company's stock, valued at approximately $1,150,486.68. This trade represents a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.29% of the company's stock.

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.