Cubist Systematic Strategies LLC Boosts Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Cubist Systematic Strategies LLC boosted its stake in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,842 shares of the financial services provider’s stock after acquiring an additional 631 shares during the period. Cubist Systematic Strategies LLC owned about 0.08% of Pacific Premier Bancorp worth $1,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. US Bancorp DE raised its holdings in shares of Pacific Premier Bancorp by 53.7% in the fourth quarter. US Bancorp DE now owns 24,574 shares of the financial services provider’s stock valued at $715,000 after buying an additional 8,584 shares during the last quarter. Hsbc Holdings PLC increased its position in Pacific Premier Bancorp by 1,193.1% in the 4th quarter. Hsbc Holdings PLC now owns 223,429 shares of the financial services provider’s stock valued at $6,558,000 after acquiring an additional 206,150 shares during the period. Eagle Asset Management Inc. raised its stake in Pacific Premier Bancorp by 1,724.3% during the 4th quarter. Eagle Asset Management Inc. now owns 292,576 shares of the financial services provider’s stock valued at $8,517,000 after acquiring an additional 276,538 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Pacific Premier Bancorp by 62.3% during the 4th quarter. Rafferty Asset Management LLC now owns 115,734 shares of the financial services provider’s stock valued at $3,369,000 after acquiring an additional 44,437 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Pacific Premier Bancorp by 17.9% during the 4th quarter. First Trust Advisors LP now owns 1,046,396 shares of the financial services provider’s stock worth $30,461,000 after acquiring an additional 158,996 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PPBI. Wedbush cut their price target on Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Stephens upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Raymond James lifted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.83.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $25.16 on Tuesday. The company has a market cap of $2.43 billion, a P/E ratio of 193.54 and a beta of 1.23. Pacific Premier Bancorp, Inc. has a one year low of $17.86 and a one year high of $30.13. The business has a fifty day moving average of $25.09 and a two-hundred day moving average of $23.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. During the same quarter last year, the business earned $0.60 EPS. The firm’s revenue for the quarter was down 9.5% on a year-over-year basis. As a group, analysts predict that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.38%.

Insider Buying and Selling

In related news, Director Jeff C. Jones sold 11,251 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 30,499 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at $5,448,888.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now directly owns 123,794 shares of the company’s stock, valued at $2,924,014.28. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

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.