Pacific Premier Bancorp Inc $PPBI Shares Sold by Northern Trust Corp

Northern Trust Corp lowered its holdings in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,149,690 shares of the financial services provider’s stock after selling 32,817 shares during the period. Northern Trust Corp owned 1.18% of Pacific Premier Bancorp worth $24,511,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Pacific Premier Bancorp by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider’s stock worth $10,238,000 after purchasing an additional 12,542 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth $352,000. GAMMA Investing LLC lifted its stake 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 worth $49,000 after acquiring an additional 741 shares during the period. KBC Group NV lifted its stake 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 worth $117,000 after acquiring an additional 546 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of Pacific Premier Bancorp by 30.0% in the 1st quarter. Deutsche Bank AG now owns 116,419 shares of the financial services provider’s stock worth $2,482,000 after acquiring an additional 26,888 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $24.49 on Monday. The company has a 50-day simple moving average of $22.43 and a 200-day simple moving average of $21.77. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.38 billion, a PE ratio of 17.25 and a beta of 1.20. 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 announced its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $145.64 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.43 EPS. Equities research analysts predict 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 declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently 92.96%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a “sell” rating for the company. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Pacific Premier Bancorp has an average rating of “Hold” and an average target price of $27.50.

Insider Activity

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were 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 owned 51,042 shares in the company, valued at $1,150,486.68. This trade represents a 8.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.29% of the stock is owned by corporate insiders.

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.