AQR Capital Management LLC Lowers Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

AQR Capital Management LLC lowered its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 22.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,055 shares of the financial services provider’s stock after selling 4,981 shares during the quarter. AQR Capital Management LLC’s holdings in Pacific Premier Bancorp were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Arizona State Retirement System boosted its position in Pacific Premier Bancorp by 1.8% during the second quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 482 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Pacific Premier Bancorp by 0.8% during the second quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock worth $1,742,000 after purchasing an additional 631 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its position in Pacific Premier Bancorp by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 53,171 shares of the financial services provider’s stock worth $1,221,000 after purchasing an additional 858 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Pacific Premier Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 48,500 shares of the financial services provider’s stock worth $1,114,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Pacific Premier Bancorp in the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Activity at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 30,499 shares of the company’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 sale, the chief operating officer now owns 230,592 shares of the company’s stock, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the transaction, the director now owns 123,794 shares of the company’s stock, valued at $2,924,014.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 230,592 shares in the company, valued at approximately $5,448,888.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PPBI has been the topic of a number of analyst reports. Stephens lifted their price objective on 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. Wedbush cut their target price 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. Finally, Raymond James raised their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.83.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $26.67 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $24.82 and its two-hundred day moving average is $23.67. Pacific Premier Bancorp, Inc. has a 12-month low of $17.86 and a 12-month high of $30.13. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 205.15 and a beta of 1.22.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced 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 firm had revenue of $154.62 million for the quarter, compared to analysts’ expectations of $162.23 million. Pacific Premier Bancorp’s revenue was down 9.5% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Research analysts expect that Pacific Premier Bancorp, Inc. will post 1.64 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, August 5th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Monday, August 5th. Pacific Premier Bancorp’s payout ratio is currently 1,015.38%.

Pacific Premier Bancorp 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.