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 purchased a new stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,594 shares of the financial services provider's stock, valued at approximately $546,000.

Other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in Pacific Premier Bancorp by 8,794.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,601 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 1,583 shares during the period. GAMMA Investing LLC raised its position 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 valued at $49,000 after buying an additional 741 shares during the last quarter. KBC Group NV raised its position in shares of 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 last quarter. Point72 Asset Management L.P. raised its position in shares of 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 last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of Pacific Premier Bancorp during the fourth quarter valued at about $200,000. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Price Performance

Shares of PPBI remained flat at $24.49 during trading hours on Friday. Pacific Premier Bancorp Inc has a 52-week low of $18.06 and a 52-week high of $30.28. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. 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 50-day simple moving average of $22.78 and a 200 day simple moving average of $21.77.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.05. The firm had revenue of $145.64 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $0.43 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid 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 of this dividend was Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio is 92.96%.

Analysts Set New Price Targets

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

Insider Transactions at Pacific Premier Bancorp

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 value of $112,700.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.29% of the company's stock.

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.