Graham Capital Management L.P. Has $559,000 Stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Graham Capital Management L.P. decreased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 22.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,431 shares of the financial services provider’s stock after selling 6,553 shares during the quarter. Graham Capital Management L.P.’s holdings in Pacific Premier Bancorp were worth $559,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new position in Pacific Premier Bancorp in the 4th quarter valued at about $8,720,000. Beacon Pointe Advisors LLC bought a new position in Pacific Premier Bancorp in the 4th quarter valued at about $7,798,000. Azora Capital LP increased its holdings in Pacific Premier Bancorp by 54.4% in the 4th quarter. Azora Capital LP now owns 747,779 shares of the financial services provider’s stock valued at $18,635,000 after buying an additional 263,383 shares during the period. Invesco Ltd. increased its holdings in Pacific Premier Bancorp by 12.1% in the 4th quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock valued at $55,990,000 after buying an additional 241,881 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Pacific Premier Bancorp by 142.2% in the 4th quarter. JPMorgan Chase & Co. now owns 364,604 shares of the financial services provider’s stock valued at $9,086,000 after buying an additional 214,069 shares during the period. Institutional investors and hedge funds own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

PPBI opened at $22.46 on Friday. 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’s fifty day moving average price is $20.77 and its two-hundred day moving average price is $24.01. Pacific Premier Bancorp, Inc. has a 1-year low of $18.06 and a 1-year high of $30.28. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 13.70 and a beta of 1.18.

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

Pacific Premier Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, May 5th were given a dividend of $0.33 per share. The ex-dividend date was Monday, May 5th. This represents a $1.32 annualized dividend and a yield of 5.88%. Pacific Premier Bancorp’s 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 shares were 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 $2,844,939.24. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.29% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. DA Davidson lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 24th. StockNews.com assumed coverage on shares of Pacific Premier Bancorp in a report on Wednesday. They set a “sell” rating on the stock. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.25.

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.