GAMMA Investing LLC Boosts Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

GAMMA Investing LLC boosted its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3,053.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,780 shares of the financial services provider’s stock after acquiring an additional 47,233 shares during the quarter. GAMMA Investing LLC owned 0.05% of Pacific Premier Bancorp worth $1,040,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PPBI. Sterling Capital Management LLC increased its holdings in shares of Pacific Premier Bancorp by 729.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 2,655 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Pacific Premier Bancorp by 158.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,853 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Pacific Premier Bancorp by 171.7% during the 4th quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider’s stock worth $162,000 after acquiring an additional 4,120 shares during the period. Quantinno Capital Management LP purchased a new position in shares of Pacific Premier Bancorp during the 4th quarter worth about $200,000. Finally, Kestra Investment Management LLC purchased a new position in Pacific Premier Bancorp in the fourth quarter valued at approximately $220,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Activity

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the company’s 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 sale, the chief operating officer now directly owns 140,283 shares in the company, valued at $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PPBI shares. DA Davidson downgraded shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 24th. Wall Street Zen started coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.25.

Pacific Premier Bancorp Trading Down 0.1%

NASDAQ:PPBI opened at $20.56 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. Pacific Premier Bancorp, Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $30.28. The stock’s 50-day moving average is $20.83 and its two-hundred day moving average is $23.00. The stock has a market cap of $2.00 billion, a PE ratio of 12.54 and a beta of 1.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. The business had revenue of $144.83 million during the quarter, compared to analysts’ expectations of $143.25 million. During the same quarter in the previous year, the business posted $0.49 EPS. As a group, equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.42%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 86.84%.

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.