Pacific Premier Bancorp Inc $PPBI Holdings Raised by Wellington Management Group LLP

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 boosted its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 660,041 shares of the financial services provider's stock after purchasing an additional 63,387 shares during the quarter. Wellington Management Group LLP owned about 0.68% of Pacific Premier Bancorp worth $14,072,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versor Investments LP acquired a new stake in shares of Pacific Premier Bancorp in the first quarter valued at approximately $2,028,000. Algert Global LLC increased its stake in shares of Pacific Premier Bancorp by 1.3% in the first quarter. Algert Global LLC now owns 291,101 shares of the financial services provider's stock valued at $6,206,000 after purchasing an additional 3,750 shares during the period. Cresset Asset Management LLC increased its stake in shares of Pacific Premier Bancorp by 9.1% in the first quarter. Cresset Asset Management LLC now owns 10,251 shares of the financial services provider's stock valued at $219,000 after purchasing an additional 853 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Pacific Premier Bancorp in the first quarter valued at approximately $733,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Pacific Premier Bancorp by 8,794.4% in 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 purchasing an additional 1,583 shares during the period. 93.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pacific Premier Bancorp

In related news, General Counsel Steven R. Arnold sold 5,000 shares of Pacific Premier Bancorp stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the transaction, the general counsel directly owned 51,042 shares of the company's stock, valued at $1,150,486.68. The trade was a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.29% of the stock is currently owned by insiders.

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 issued a "sell" rating on the stock. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $27.50.

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI traded up $0.08 during mid-day trading on Monday, reaching $24.49. 19,566,748 shares of the stock were exchanged, compared to its average volume of 1,924,856. The business has a fifty day moving average price of $22.50 and a 200 day moving average price of $21.77. The firm has a market capitalization of $2.38 billion, a PE ratio of 17.25 and a beta of 1.20. Pacific Premier Bancorp Inc has a 1-year low of $18.06 and a 1-year high of $30.28. 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 (NASDAQ:PPBI - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. The firm had revenue of $145.64 million for the quarter, compared to analyst estimates of $147.67 million. Pacific Premier Bancorp had a return on equity of 4.85% and a net margin of 16.13%.During the same period in the previous year, the company earned $0.43 earnings per share. Research analysts expect that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced 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 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 payout ratio is presently 92.96%.

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.