Algert Global LLC Has $7.16 Million Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

by · The Markets Daily

Algert Global LLC increased its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI – Free Report) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 287,351 shares of the financial services provider’s stock after buying an additional 52,735 shares during the period. Algert Global LLC owned about 0.30% of Pacific Premier Bancorp worth $7,161,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its holdings in shares of Pacific Premier Bancorp by 729.4% during the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 2,655 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Pacific Premier Bancorp by 158.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider’s stock worth $75,000 after buying an additional 1,853 shares during the period. KBC Group NV lifted its holdings in Pacific Premier Bancorp by 34.7% during the 4th quarter. KBC Group NV now owns 4,955 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,276 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at about $158,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Pacific Premier Bancorp in the 4th quarter valued at about $220,000. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, DA Davidson cut Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.25.

Read Our Latest Analysis on Pacific Premier Bancorp

Pacific Premier Bancorp Stock Performance

Shares of Pacific Premier Bancorp stock opened at $21.41 on Monday. The business has a 50-day moving average price of $20.97 and a two-hundred day moving average price of $24.24. Pacific Premier Bancorp, Inc. has a 1-year low of $18.06 and a 1-year high of $30.28. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.08 billion, a P/E ratio of 13.05 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI – Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. The business had revenue of $144.83 million during the quarter, compared to analysts’ expectations of $143.25 million. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be given a dividend of $0.33 per share. The ex-dividend date is Monday, May 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.17%. Pacific Premier Bancorp’s payout ratio is presently 86.84%.

Insider Buying and Selling

In other news, COO Edward Earl Wilcox sold 14,500 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total transaction of $294,060.00. Following the completion of the sale, the chief operating officer now owns 140,283 shares in the company, valued at $2,844,939.24. The trade was a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.29% of the stock is owned by insiders.

About Pacific Premier Bancorp

(Free Report)

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.

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