GAMMA Investing LLC Trims Stock Holdings in Pacific Premier Bancorp Inc $PPBI

GAMMA Investing LLC trimmed its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 37.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,425 shares of the financial services provider’s stock after selling 863 shares during the period. GAMMA Investing LLC’s holdings in Pacific Premier Bancorp were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Pacific Premier Bancorp by 32.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,796 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 5,306 shares during the period. Pallas Capital Advisors LLC purchased a new stake in Pacific Premier Bancorp in the second quarter worth $218,000. Voya Investment Management LLC grew its stake in Pacific Premier Bancorp by 20.0% in the first quarter. Voya Investment Management LLC now owns 266,013 shares of the financial services provider’s stock worth $5,671,000 after purchasing an additional 44,401 shares during the period. Strs Ohio purchased a new stake in Pacific Premier Bancorp in the first quarter worth $804,000. Finally, Intech Investment Management LLC grew its stake in Pacific Premier Bancorp by 31.2% in the first quarter. Intech Investment Management LLC now owns 79,904 shares of the financial services provider’s stock worth $1,704,000 after purchasing an additional 19,013 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

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 sale, the general counsel directly owned 51,042 shares of the company’s stock, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their ownership of the stock. The transaction 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.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $24.49 on Monday. Pacific Premier Bancorp Inc has a 12 month low of $18.06 and a 12 month high of $30.28. The stock has a market cap of $2.38 billion, a P/E ratio of 17.25 and a beta of 1.20. The stock’s fifty day moving average price is $23.66 and its 200-day moving average price is $22.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.39 EPS for the quarter, topping 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 firm had revenue of $145.64 million for the quarter, compared to analysts’ expectations of $147.67 million. During the same period in the prior year, the firm posted $0.43 earnings per share. As a group, equities analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced 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 5.4%. The ex-dividend date of this dividend was Tuesday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 92.96%.

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.