Wellington Management Group LLP Has $14.07 Million Stock Holdings in Pacific Premier Bancorp Inc $PPBI

Key Points

• Wellington Management Group LLP increased its stake in Pacific Premier Bancorp by 10.6%, owning over $14 million worth of shares as of now.
• Pacific Premier Bancorp recently announced a quarterly dividend of $0.33, yielding around 5.4%, with a high dividend payout ratio of 92.96%.
• Analysts have set a consensus rating of "Hold" for Pacific Premier Bancorp, with a price target of $27.50 following a recent rating from Wall Street Zen.

Wellington Management Group LLP grew its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 660,041 shares of the financial services provider's stock after buying an additional 63,387 shares during the period. Wellington Management Group LLP owned 0.68% of Pacific Premier Bancorp worth $14,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Pacific Premier Bancorp by 2.7% in the first quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock valued at $10,238,000 after buying an additional 12,542 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Pacific Premier Bancorp in the first quarter valued at about $352,000. GAMMA Investing LLC increased its stake in shares of Pacific Premier Bancorp by 47.9% in 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 period. KBC Group NV increased its stake in shares of Pacific Premier Bancorp by 11.0% in 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 period. Finally, MQS Management LLC acquired a new stake in shares of Pacific Premier Bancorp in the first quarter valued at about $501,000. Institutional investors and hedge funds own 93.11% of the company's stock.

Analyst Upgrades and Downgrades

Separately, 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. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus 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 on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total value 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 $1,150,486.68. This trade represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.29% of the stock is owned by corporate insiders.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $24.35 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 17.15 and a beta of 1.19. The stock has a 50 day moving average of $22.18 and a 200 day moving average of $21.81. Pacific Premier Bancorp Inc has a 12 month low of $18.06 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.05. Pacific Premier Bancorp had a return on equity of 4.85% and a net margin of 16.13%.The company had revenue of $145.64 million during the quarter, compared to the consensus estimate of $147.67 million. During the same period last year, the business posted $0.43 earnings per share. As a group, sell-side analysts forecast that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis 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 currently 92.96%.

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.

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