Man Group plc Sells 23,496 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Man Group plc reduced its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,535 shares of the financial services provider’s stock after selling 23,496 shares during the period. Man Group plc owned approximately 0.23% of Pacific Premier Bancorp worth $5,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 158.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 1,853 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Pacific Premier Bancorp by 729.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 2,655 shares in the last quarter. KBC Group NV boosted its holdings in shares of Pacific Premier Bancorp by 34.7% in the 4th quarter. KBC Group NV now owns 4,955 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 1,276 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter worth approximately $158,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Pacific Premier Bancorp in the 4th quarter worth approximately $220,000. 93.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on PPBI. StockNews.com began coverage on Pacific Premier Bancorp in a report on Wednesday, May 14th. They issued a “sell” rating on the stock. DA Davidson downgraded 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 given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus target price of $27.25.

Pacific Premier Bancorp Stock Down 0.3%

NASDAQ:PPBI opened at $22.11 on Wednesday. The stock’s fifty day moving average price is $20.82 and its two-hundred day moving average price is $23.93. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 13.48 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a 52-week low of $18.06 and a 52-week high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.07. The company had revenue of $144.83 million for the quarter, compared to the consensus estimate of $143.25 million. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. During the same quarter in the prior year, the business posted $0.49 EPS. On average, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 86.84%.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 140,283 shares in the company, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.29% of the stock is owned by corporate insiders.

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.