Amalgamated Bank Lowers Stock Holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Amalgamated Bank trimmed its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,553 shares of the financial services provider’s stock after selling 656 shares during the period. Amalgamated Bank’s holdings in Pacific Premier Bancorp were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PPBI. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pacific Premier Bancorp in the 1st quarter valued at about $352,000. KBC Group NV raised its holdings in shares of Pacific Premier Bancorp by 11.0% in the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 546 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 741 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at about $964,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Pacific Premier Bancorp by 33.1% in the 4th quarter. Renaissance Technologies LLC now owns 175,538 shares of the financial services provider’s stock valued at $4,374,000 after purchasing an additional 43,610 shares in the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 14,500 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the sale, the chief operating officer directly owned 140,283 shares of the company’s stock, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.29% of the company’s stock.

Wall Street Analysts Forecast Growth

PPBI has been the subject of several recent analyst reports. DA Davidson lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 24th. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $27.25.

Pacific Premier Bancorp Stock Up 0.6%

PPBI stock opened at $22.83 on Friday. The firm’s fifty day simple moving average is $21.52 and its 200-day simple moving average is $22.41. The company has a market capitalization of $2.22 billion, a P/E ratio of 15.02 and a beta of 1.16. 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 12 month low of $18.06 and a 12 month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data 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. The business had revenue of $144.83 million for the quarter, compared to the consensus estimate of $143.25 million. Pacific Premier Bancorp had a net margin of 16.89% and a return on equity of 5.01%. During the same period in the prior year, the firm earned $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 year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 86.84%.

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.