Vanguard Group Inc. Lowers Stock Holdings in Pacific Premier Bancorp Inc $PPBI

Vanguard Group Inc. reduced its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,028,096 shares of the financial services provider’s stock after selling 213,398 shares during the period. Vanguard Group Inc. owned about 11.36% of Pacific Premier Bancorp worth $235,119,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobs Asset Management LLC grew its stake in Pacific Premier Bancorp by 0.5% in the 4th quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider’s stock worth $2,097,000 after acquiring an additional 400 shares during the period. KBC Group NV grew its stake in 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 worth $117,000 after acquiring an additional 546 shares during the period. Hexagon Capital Partners LLC grew its stake in Pacific Premier Bancorp by 2.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 25,250 shares of the financial services provider’s stock worth $538,000 after acquiring an additional 546 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Pacific Premier Bancorp by 4.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 591 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Pacific Premier Bancorp by 6.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,025 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 643 shares during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $22.54, for a total value of $112,700.00. Following the transaction, the general counsel owned 51,042 shares in the company, valued at $1,150,486.68. The trade was a 8.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.29% of the company’s stock.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $23.24 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 16.37 and a beta of 1.19. The firm’s fifty day simple moving average is $21.86 and its 200 day simple moving average is $21.88. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.05. The business had revenue of $145.64 million for the quarter, compared to analyst estimates 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 business posted $0.43 EPS. As a group, equities research analysts expect 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 announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.7%. Pacific Premier Bancorp’s payout ratio is presently 92.96%.

Wall Street Analysts Forecast Growth

PPBI has been the topic of a number of research analyst reports. Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a report on Thursday, May 22nd. They issued a “sell” rating on the stock. DA Davidson lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 24th.

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.