Insider Selling: Pacific Premier Bancorp Inc (NASDAQ:PPBI) General Counsel Sells 5,000 Shares of Stock

Key Points

• Steven R. Arnold, General Counsel of Pacific Premier Bancorp, sold 5,000 shares on August 12th, reducing his position by 8.92% and leaving him with 51,042 shares valued at approximately $1.15 million.
• The company reported earnings of $0.39 EPS for the last quarter, surpassing estimates but showing a decrease from the previous year's $0.43 EPS.
• Pacific Premier Bancorp announced a dividend of $0.33 per share to be paid on August 15th, resulting in an annualized yield of 5.6%.

Pacific Premier Bancorp Inc (NASDAQ:PPBI - Get Free Report) General Counsel Steven R. Arnold sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the transaction, the general counsel owned 51,042 shares in the company, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Pacific Premier Bancorp Trading Down 0.3%

Shares of NASDAQ PPBI traded down $0.08 during trading hours on Monday, reaching $23.04. The stock had a trading volume of 104,047 shares, compared to its average volume of 873,979. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 16.22 and a beta of 1.19. 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 Inc has a 52-week low of $18.06 and a 52-week high of $30.28. The business's fifty day moving average price is $21.83 and its two-hundred day moving average price is $21.90.

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 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.05. The company had revenue of $145.64 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.43 earnings per share. Analysts expect that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors 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 5.7%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp's payout ratio is 92.96%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 22nd. They issued a "sell" rating on the stock. DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th.

Institutional Investors Weigh In On Pacific Premier Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of PPBI. IFP Advisors Inc acquired a new stake in shares of Pacific Premier Bancorp in the 2nd quarter worth $29,000. Quarry LP increased its stake in Pacific Premier Bancorp by 488.3% during the 1st quarter. Quarry LP now owns 1,459 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 1,211 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings 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 worth $34,000 after buying an additional 1,583 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Pacific Premier Bancorp by 296.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,903 shares of the financial services provider's stock worth $40,000 after acquiring an additional 1,423 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 worth $49,000 after purchasing an additional 741 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

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.