GSA Capital Partners LLP Acquires Shares of 35,747 Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

GSA Capital Partners LLP acquired a new stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 35,747 shares of the financial services provider’s stock, valued at approximately $858,000.

A number of other hedge funds also recently bought and sold shares of PPBI. American Century Companies Inc. raised its holdings in Pacific Premier Bancorp by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 4,153,813 shares of the financial services provider’s stock valued at $90,387,000 after acquiring an additional 198,874 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Pacific Premier Bancorp by 33.3% during the 3rd quarter. Wellington Management Group LLP now owns 275,267 shares of the financial services provider’s stock worth $5,990,000 after buying an additional 68,842 shares during the last quarter. Vest Financial LLC acquired a new stake in shares of Pacific Premier Bancorp during the 4th quarter worth approximately $237,000. Moody National Bank Trust Division increased its holdings in shares of Pacific Premier Bancorp by 11.5% during the 4th quarter. Moody National Bank Trust Division now owns 18,347 shares of the financial services provider’s stock worth $534,000 after buying an additional 1,892 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Pacific Premier Bancorp by 82.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 484,910 shares of the financial services provider’s stock worth $14,116,000 after buying an additional 219,313 shares during the last quarter. Institutional investors and hedge funds own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

PPBI has been the subject of a number of recent analyst reports. DA Davidson cut their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Wedbush reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday, April 25th. Finally, Piper Sandler lowered their price objective on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Pacific Premier Bancorp has an average rating of “Hold” and an average price target of $26.33.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, CFO Lori R. Wright sold 4,668 shares of Pacific Premier Bancorp stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the sale, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at approximately $737,399.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.21% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Stock Performance

Shares of PPBI stock opened at $24.74 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp, Inc. has a 52 week low of $17.86 and a 52 week high of $30.13. The stock has a market capitalization of $2.39 billion, a PE ratio of 190.32 and a beta of 1.24. The firm has a 50 day moving average of $22.24 and a two-hundred day moving average of $23.80.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. During the same period in the prior year, the business earned $0.66 EPS. On average, research analysts predict that Pacific Premier Bancorp, Inc. will post 1.78 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Monday, May 6th were given a $0.33 dividend. The ex-dividend date was Friday, May 3rd. This represents a $1.32 annualized dividend and a yield of 5.34%. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Pacific Premier Bancorp 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.