MetLife Investment Management LLC Sells 872 Shares of Pacific Premier Bancorp Inc $PPBI

MetLife Investment Management LLC lowered its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,523 shares of the financial services provider’s stock after selling 872 shares during the quarter. MetLife Investment Management LLC’s holdings in Pacific Premier Bancorp were worth $1,226,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV purchased a new position in Pacific Premier Bancorp in the fourth quarter worth $551,000. Brevan Howard Capital Management LP purchased a new position in Pacific Premier Bancorp in the fourth quarter worth $365,000. Cubist Systematic Strategies LLC grew its position in Pacific Premier Bancorp by 68.3% in the fourth quarter. Cubist Systematic Strategies LLC now owns 141,003 shares of the financial services provider’s stock worth $3,514,000 after acquiring an additional 57,228 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Pacific Premier Bancorp in the fourth quarter worth $964,000. Finally, Jacobs Asset Management LLC grew its position in Pacific Premier Bancorp by 0.5% in the fourth quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider’s stock worth $2,097,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI opened at $24.49 on Friday. The company has a 50-day simple moving average of $22.71 and a two-hundred day simple moving average of $21.80. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. Pacific Premier Bancorp Inc has a 12-month low of $18.06 and a 12-month high of $30.28. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 17.25 and a beta of 1.20.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.05. The business had revenue of $145.64 million during the quarter, compared to analyst estimates of $147.67 million. Pacific Premier Bancorp had a net margin of 16.13% and a return on equity of 4.85%. During the same period in the prior year, the business posted $0.43 earnings per share. On average, equities analysts forecast that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Tuesday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is currently 92.96%.

Analyst Ratings Changes

Separately, Wall Street Zen initiated coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $27.50.

Insider Buying and Selling at Pacific Premier Bancorp

In other news, General Counsel Steven R. Arnold sold 5,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $22.54, for a total transaction of $112,700.00. Following the completion of the sale, the general counsel directly owned 51,042 shares in the company, valued at approximately $1,150,486.68. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.29% of the company’s stock.

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.