Wealth Enhancement Advisory Services LLC Takes Position in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Wealth Enhancement Advisory Services LLC bought a new stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,490 shares of the financial services provider's stock, valued at approximately $352,000.

Other institutional investors also recently made changes to their positions in the company. Jacobs Asset Management LLC increased its holdings in shares of Pacific Premier Bancorp by 0.5% in the 4th quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider's stock valued at $2,097,000 after acquiring an additional 400 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Pacific Premier Bancorp by 4.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider's stock valued at $379,000 after acquiring an additional 591 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Pacific Premier Bancorp by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,025 shares of the financial services provider's stock valued at $250,000 after acquiring an additional 643 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Pacific Premier Bancorp by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 741 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of Pacific Premier Bancorp by 4.2% in the 4th quarter. HighTower Advisors LLC now owns 19,371 shares of the financial services provider's stock valued at $483,000 after acquiring an additional 772 shares during the last quarter. 93.11% of the stock is owned by institutional investors and hedge funds.

Pacific Premier Bancorp Stock Performance

PPBI traded up $0.08 during trading on Tuesday, reaching $22.84. 718,558 shares of the company were exchanged, compared to its average volume of 696,815. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week high of $30.28. The stock has a market cap of $2.22 billion, a P/E ratio of 15.03 and a beta of 1.16. The firm has a 50 day moving average of $21.39 and a 200 day moving average of $22.42. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. The company had revenue of $144.83 million during the quarter, compared to analysts' expectations of $143.25 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, sell-side analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were paid a $0.33 dividend. The ex-dividend date was Monday, May 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.78%. Pacific Premier Bancorp's payout ratio is 86.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PPBI. DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 24th. Wall Street Zen began coverage on Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Pacific Premier Bancorp has a consensus rating of "Hold" and a consensus price target of $27.25.

Insider Activity

In other news, COO Edward Earl Wilcox sold 14,500 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the transaction, the chief operating officer owned 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.29% of the company's stock.

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.