Charles Schwab Investment Management Inc. Has $29.04 Million Stake in Pacific Premier Bancorp Inc $PPBI

Charles Schwab Investment Management Inc. grew its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,362,284 shares of the financial services provider’s stock after purchasing an additional 17,594 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.40% of Pacific Premier Bancorp worth $29,044,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in Pacific Premier Bancorp during the first quarter worth approximately $887,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pacific Premier Bancorp by 21.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,239 shares of the financial services provider’s stock worth $687,000 after buying an additional 5,767 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Pacific Premier Bancorp during the first quarter worth approximately $1,530,000. Y Intercept Hong Kong Ltd grew its position in Pacific Premier Bancorp by 100.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 33,295 shares of the financial services provider’s stock worth $710,000 after buying an additional 16,684 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Pacific Premier Bancorp by 2.6% during the first quarter. Victory Capital Management Inc. now owns 1,464,112 shares of the financial services provider’s stock worth $31,215,000 after buying an additional 37,267 shares in the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Insider Activity at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total value of $112,700.00. Following the completion of the transaction, the general counsel directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PPBI. Wall Street Zen began coverage on Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a “sell” rating on the stock. DA Davidson downgraded Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 24th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.50.

Pacific Premier Bancorp Stock Up 0.0%

Shares of PPBI opened at $23.25 on Wednesday. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week high of $30.28. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 16.37 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a fifty day moving average of $21.89 and a 200-day moving average of $21.89.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. Pacific Premier Bancorp had a return on equity of 4.85% and a net margin of 16.13%.The company had revenue of $145.64 million during the quarter, compared to analysts’ expectations of $147.67 million. During the same period in the prior year, the company earned $0.43 EPS. As a group, sell-side analysts anticipate that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 92.96%.

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.