Golden State Wealth Management LLC Raises Holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Golden State Wealth Management LLC increased its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 100.0% in the 1st quarter, Holdings Channel reports. The firm owned 12,644 shares of the financial services provider’s stock after purchasing an additional 6,322 shares during the period. Golden State Wealth Management LLC’s holdings in Pacific Premier Bancorp were worth $270,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Pacific Premier Bancorp during the first quarter worth approximately $352,000. SG Americas Securities LLC increased its position in shares of Pacific Premier Bancorp by 253.1% during the first quarter. SG Americas Securities LLC now owns 104,933 shares of the financial services provider’s stock worth $2,237,000 after purchasing an additional 75,219 shares in the last quarter. GAMMA Investing LLC boosted its stake in Pacific Premier Bancorp by 47.9% during the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider’s stock worth $49,000 after buying an additional 741 shares during the last quarter. Wellington Management Group LLP grew its holdings in Pacific Premier Bancorp by 1.8% in the 4th quarter. Wellington Management Group LLP now owns 596,654 shares of the financial services provider’s stock valued at $14,869,000 after buying an additional 10,321 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in Pacific Premier Bancorp in the 4th quarter valued at $964,000. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Edward Earl Wilcox sold 14,500 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the transaction, the chief operating officer now owns 140,283 shares of the company’s stock, valued at $2,844,939.24. This represents a 9.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.29% of the company’s stock.

Pacific Premier Bancorp Stock Down 1.3%

Shares of NASDAQ:PPBI opened at $21.06 on Friday. Pacific Premier Bancorp Inc has a 52-week low of $18.06 and a 52-week high of $30.28. The business has a fifty day moving average of $21.12 and a two-hundred day moving average of $22.64. The stock has a market cap of $2.04 billion, a P/E ratio of 13.86 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly 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. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. The business had revenue of $144.83 million for the quarter, compared to analyst estimates of $143.25 million. During the same quarter in the prior year, the company posted $0.49 EPS. On average, research analysts expect that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, May 5th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 86.84%.

Wall Street Analyst Weigh In

PPBI has been the subject of several analyst reports. Wall Street Zen initiated coverage on Pacific Premier Bancorp in a report on Thursday, May 22nd. They issued a “sell” rating for the company. DA Davidson cut Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 24th. One research 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. According to MarketBeat, Pacific Premier Bancorp currently has an average rating of “Hold” and an average price target of $27.25.

Pacific Premier Bancorp Company 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.