Hsbc Holdings PLC Lowers Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Hsbc Holdings PLC decreased its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 86.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,410 shares of the financial services provider’s stock after selling 145,399 shares during the period. Hsbc Holdings PLC’s holdings in Pacific Premier Bancorp were worth $512,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fidelis Capital Partners LLC acquired a new stake in shares of Pacific Premier Bancorp during the 1st quarter worth $27,000. nVerses Capital LLC increased its stake in Pacific Premier Bancorp by 93.8% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 1,500 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Pacific Premier Bancorp in the 2nd quarter worth about $95,000. Capstone Investment Advisors LLC acquired a new position in shares of Pacific Premier Bancorp in the 1st quarter valued at about $217,000. Finally, MQS Management LLC purchased a new stake in shares of Pacific Premier Bancorp during the 1st quarter worth about $235,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

Pacific Premier Bancorp stock opened at $25.16 on Tuesday. Pacific Premier Bancorp, Inc. has a 12-month low of $17.86 and a 12-month high of $30.13. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 193.54 and a beta of 1.23. The firm’s fifty day moving average price is $25.09 and its 200 day moving average price is $23.53.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. The company’s revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. On average, research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.65 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced 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 currently 1,015.38%.

Insider Transactions at Pacific Premier Bancorp

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PPBI. Stephens lifted their price target on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Wedbush reduced their target price on shares of Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Finally, Raymond James increased their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.83.

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.