BNP Paribas Arbitrage SA Raises Position in Pacific Premier Bancorp, Inc. (PPBI)
BNP Paribas Arbitrage SA increased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 765.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,712 shares of the financial services provider’s stock after acquiring an additional 9,474 shares during the period. BNP Paribas Arbitrage SA’s holdings in Pacific Premier Bancorp were worth $284,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Pacific Premier Bancorp by 6.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,371,275 shares of the financial services provider’s stock worth $34,995,000 after acquiring an additional 78,821 shares during the last quarter. Rothschild & Co. Asset Management US Inc. grew its position in Pacific Premier Bancorp by 3.8% during the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 161,428 shares of the financial services provider’s stock worth $4,120,000 after acquiring an additional 5,882 shares during the last quarter. Brown Advisory Inc. grew its position in Pacific Premier Bancorp by 17.5% during the 4th quarter. Brown Advisory Inc. now owns 1,163,019 shares of the financial services provider’s stock worth $29,680,000 after acquiring an additional 172,936 shares during the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in Pacific Premier Bancorp during the 4th quarter worth $332,000. Finally, Rhumbline Advisers grew its position in Pacific Premier Bancorp by 21.5% during the 4th quarter. Rhumbline Advisers now owns 131,114 shares of the financial services provider’s stock worth $3,346,000 after acquiring an additional 23,188 shares during the last quarter. Institutional investors and hedge funds own 83.47% of the company’s stock.
PPBI has been the topic of a number of research reports. Zacks Investment Research upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, February 1st. FIG Partners restated an “outperform” rating on shares of Pacific Premier Bancorp in a research report on Tuesday, January 29th. BidaskClub raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. ValuEngine raised Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Stephens reaffirmed a “hold” rating and set a $35.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $37.50.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, April 23rd. The financial services provider reported $0.62 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. The firm had revenue of $119.09 million for the quarter, compared to the consensus estimate of $121.55 million. Pacific Premier Bancorp had a return on equity of 8.24% and a net margin of 25.82%. During the same period in the previous year, the business earned $0.62 EPS. On average, equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 2.58 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.02%. The ex-dividend date of this dividend was Tuesday, April 30th. Pacific Premier Bancorp’s payout ratio is presently 35.06%.
In other Pacific Premier Bancorp news, Chairman Steven R. Gardner sold 43,535 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $29.92, for a total transaction of $1,302,567.20. Following the transaction, the chairman now directly owns 234,880 shares of the company’s stock, valued at approximately $7,027,609.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.67% of the stock is currently owned by insiders.
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Pacific Premier Bancorp Company Profile
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
Further Reading: How Investors Use a Balance Sheet
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