Y Intercept Hong Kong Ltd Acquires 16,684 Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Key Points

• Y Intercept Hong Kong Ltd increased its holdings in Pacific Premier Bancorp by 100.4% in Q1, amounting to 33,295 shares worth $710,000.
• Pacific Premier Bancorp announced a quarterly dividend of $0.33 per share, with an ex-dividend date set for August 5th, representing an annualized yield of 5.85%.
• Shares of Pacific Premier Bancorp experienced a 6.7% increase and opened at $22.57, while analysts predict earnings per share of 1.34 for the current fiscal year.

Y Intercept Hong Kong Ltd boosted its stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 100.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,295 shares of the financial services provider's stock after buying an additional 16,684 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Pacific Premier Bancorp were worth $710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPBI. Victory Capital Management Inc. raised its position in shares of Pacific Premier Bancorp by 2.6% during the first quarter. Victory Capital Management Inc. now owns 1,464,112 shares of the financial services provider's stock worth $31,215,000 after acquiring an additional 37,267 shares during the last quarter. MQS Management LLC acquired a new stake in Pacific Premier Bancorp during the first quarter worth approximately $501,000. CWM LLC grew its stake in Pacific Premier Bancorp by 749.7% during the first quarter. CWM LLC now owns 22,263 shares of the financial services provider's stock worth $475,000 after purchasing an additional 19,643 shares during the period. Cerity Partners LLC grew its stake in Pacific Premier Bancorp by 105.0% during the first quarter. Cerity Partners LLC now owns 19,994 shares of the financial services provider's stock worth $426,000 after purchasing an additional 10,243 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in Pacific Premier Bancorp during the first quarter worth approximately $343,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPBI has been the subject of several recent analyst reports. DA Davidson cut Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. Wall Street Zen assumed coverage on Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a "sell" rating for the company.

Insider Activity at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of the stock in a transaction that occurred 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 sale, the chief operating officer directly owned 140,283 shares of the company's stock, valued at $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.29% of the stock is currently owned by company insiders.

Pacific Premier Bancorp Stock Down 1.9%

NASDAQ:PPBI traded down $0.42 on Wednesday, hitting $21.75. The stock had a trading volume of 933,508 shares, compared to its average volume of 1,141,295. The business's fifty day moving average is $21.59 and its 200 day moving average is $22.16. The company has a market cap of $2.11 billion, a PE ratio of 15.32 and a beta of 1.16. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.05. The firm had revenue of $145.64 million during the quarter, compared to analysts' expectations 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 period last year, the company earned $0.43 earnings per share. On average, equities research analysts expect that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.07%. The ex-dividend date is Tuesday, August 5th. Pacific Premier Bancorp's dividend payout ratio (DPR) 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.