Nisa Investment Advisors LLC Decreases Stock Position in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Nisa Investment Advisors LLC cut its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 25.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,630 shares of the financial services provider’s stock after selling 1,229 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Pacific Premier Bancorp were worth $77,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in shares of Pacific Premier Bancorp in the fourth quarter worth approximately $1,009,000. Raymond James Financial Inc. bought a new stake in Pacific Premier Bancorp in the 4th quarter worth approximately $8,720,000. HighTower Advisors LLC grew its position in Pacific Premier Bancorp by 4.2% in the 4th quarter. HighTower Advisors LLC now owns 19,371 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 772 shares during the period. Cibc World Markets Corp purchased a new stake in Pacific Premier Bancorp during the 4th quarter valued at $223,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Pacific Premier Bancorp during the 4th quarter valued at $517,000. 93.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on PPBI. DA Davidson lowered Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 24th. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Pacific Premier Bancorp has an average rating of “Hold” and a consensus price target of $27.25.

Pacific Premier Bancorp Price Performance

Shares of Pacific Premier Bancorp stock opened at $22.10 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s fifty day moving average is $21.63 and its 200 day moving average is $22.29. The stock has a market cap of $2.14 billion, a P/E ratio of 14.54 and a beta of 1.16. Pacific Premier Bancorp Inc has a one year low of $18.06 and a one year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The firm had revenue of $144.83 million for the quarter, compared to analysts’ expectations of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. During the same period in the previous year, the firm earned $0.49 EPS. Sell-side analysts anticipate 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. Shareholders of record on Monday, May 5th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 86.84%.

Insiders Place Their Bets

In other 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 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 at this hyperlink. 2.29% of the stock is owned by corporate insiders.

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.