Pallas Capital Advisors LLC Invests $218,000 in Pacific Premier Bancorp Inc $PPBI

Pallas Capital Advisors LLC acquired a new position in Pacific Premier Bancorp Inc (NASDAQ:PPBI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,314 shares of the financial services provider’s stock, valued at approximately $218,000.

Several other large investors have also recently made changes to their positions in PPBI. HighTower Advisors LLC increased its stake in shares of Pacific Premier Bancorp by 2.5% in the first quarter. HighTower Advisors LLC now owns 19,848 shares of the financial services provider’s stock worth $423,000 after purchasing an additional 477 shares in the last quarter. KBC Group NV boosted its holdings 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 buying an additional 546 shares during the period. Hexagon Capital Partners LLC boosted its holdings 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 buying an additional 546 shares during the period. GAMMA Investing LLC lifted its position in shares of Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 741 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its stake in shares of Pacific Premier Bancorp by 9.1% in the first quarter. Cresset Asset Management LLC now owns 10,251 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 853 shares during the period. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, General Counsel Steven R. Arnold sold 5,000 shares of the firm’s 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 sale, the general counsel owned 51,042 shares of the company’s stock, valued at $1,150,486.68. This trade represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.29% of the company’s stock.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $24.49 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day simple moving average of $23.20 and a two-hundred day simple moving average of $21.84. Pacific Premier Bancorp Inc has a 1 year low of $18.06 and a 1 year high of $30.28. The firm has a market cap of $2.38 billion, a P/E ratio of 17.25 and a beta of 1.20.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly 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 during the quarter, compared to analysts’ expectations 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 last year, the business posted $0.43 EPS. On average, equities 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 declared 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. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 92.96%.

Pacific Premier Bancorp Company 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.