Cubist Systematic Strategies LLC Buys 57,228 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Cubist Systematic Strategies LLC grew its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 68.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,003 shares of the financial services provider’s stock after acquiring an additional 57,228 shares during the quarter. Cubist Systematic Strategies LLC owned 0.15% of Pacific Premier Bancorp worth $3,514,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PPBI. Vanguard Group Inc. boosted its position in shares of Pacific Premier Bancorp by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 11,241,494 shares of the financial services provider’s stock worth $280,138,000 after purchasing an additional 78,381 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pacific Premier Bancorp by 2.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,842,985 shares of the financial services provider’s stock worth $70,847,000 after acquiring an additional 74,644 shares in the last quarter. Invesco Ltd. grew its stake in Pacific Premier Bancorp by 12.1% in the fourth quarter. Invesco Ltd. now owns 2,246,800 shares of the financial services provider’s stock valued at $55,990,000 after acquiring an additional 241,881 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Pacific Premier Bancorp by 0.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,467,366 shares of the financial services provider’s stock worth $36,567,000 after acquiring an additional 7,465 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Pacific Premier Bancorp by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,344,690 shares of the financial services provider’s stock worth $33,510,000 after purchasing an additional 54,518 shares during the period. 93.11% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp Stock Performance

Shares of PPBI opened at $21.34 on Friday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 13.01 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a 12 month low of $18.06 and a 12 month high of $30.28. The firm has a fifty day simple moving average of $20.73 and a 200 day simple moving average of $24.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09.

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

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, May 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend is Monday, May 5th. Pacific Premier Bancorp’s payout ratio is presently 86.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PPBI. DA Davidson cut Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 24th. StockNews.com started coverage on shares of Pacific Premier Bancorp in a report on Tuesday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.25.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total transaction 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. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.29% of the stock is owned by company insiders.

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.