Ieq Capital LLC Purchases 83,005 Shares of Pacific Premier Bancorp Inc $PPBI

Ieq Capital LLC lifted its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 23.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 436,284 shares of the financial services provider’s stock after buying an additional 83,005 shares during the quarter. Ieq Capital LLC’s holdings in Pacific Premier Bancorp were worth $9,302,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake in shares of Pacific Premier Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider’s stock valued at $10,238,000 after buying an additional 12,542 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Pacific Premier Bancorp in the 1st quarter valued at approximately $352,000. GAMMA Investing LLC grew its stake in shares of Pacific Premier Bancorp by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider’s stock valued at $49,000 after buying an additional 741 shares in the last quarter. KBC Group NV grew its stake in shares of 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 valued at $117,000 after buying an additional 546 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Pacific Premier Bancorp by 30.0% in the 1st quarter. Deutsche Bank AG now owns 116,419 shares of the financial services provider’s stock valued at $2,482,000 after buying an additional 26,888 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Insider Activity at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the transaction, the general counsel directly owned 51,042 shares in the company, valued at $1,150,486.68. The trade was a 8.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a “sell” rating for the company. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $27.50.

Pacific Premier Bancorp Stock Up 1.1%

PPBI opened at $24.63 on Thursday. The business has a 50 day moving average price of $22.27 and a 200 day moving average price of $21.83. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $2.39 billion, a P/E ratio of 17.35 and a beta of 1.19.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $147.67 million. During the same period in the previous year, the company earned $0.43 EPS. Research analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued a $0.33 dividend. 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 payout ratio is 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.