Pacific Premier Bancorp Inc $PPBI Stock Position Lessened by Swiss National Bank

Swiss National Bank decreased its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 186,757 shares of the financial services provider’s stock after selling 2,200 shares during the quarter. Swiss National Bank owned 0.19% of Pacific Premier Bancorp worth $3,982,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Jacobs Asset Management LLC lifted its holdings in shares of Pacific Premier Bancorp by 0.5% during the fourth quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider’s stock valued at $2,097,000 after purchasing an additional 400 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Pacific Premier Bancorp by 2.2% during the first quarter. Hexagon Capital Partners LLC now owns 25,250 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 546 shares during the last quarter. KBC Group NV lifted its holdings in shares of Pacific Premier Bancorp by 11.0% during the first 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 during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Pacific Premier Bancorp by 4.0% during the fourth 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, GAMMA Investing LLC lifted its holdings in shares of Pacific Premier Bancorp by 47.9% during the first 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 during the last quarter. 93.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PPBI shares. DA Davidson downgraded Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 24th. Wall Street Zen began coverage on Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a “sell” rating for the company. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Pacific Premier Bancorp currently has an average rating of “Hold” and a consensus price target of $27.50.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ PPBI opened at $23.07 on Thursday. 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 firm has a market cap of $2.24 billion, a price-to-earnings ratio of 16.25 and a beta of 1.19. The business’s 50-day simple moving average is $21.92 and its 200-day simple moving average is $21.90. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data 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. The business had revenue of $145.64 million for the quarter, compared to analyst estimates of $147.67 million. Pacific Premier Bancorp had a return on equity of 4.85% and a net margin of 16.13%.During the same quarter in the prior year, the firm 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.7%. Pacific Premier Bancorp’s dividend payout ratio is currently 92.96%.

Insider Activity at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the transaction, the general counsel owned 51,042 shares of the company’s stock, 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 SEC, which is accessible through this link. Corporate insiders own 2.29% of the company’s stock.

About Pacific Premier Bancorp

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.