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

Cubist Systematic Strategies LLC grew its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 68.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,003 shares of the financial services provider’s stock after purchasing an additional 57,228 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Pacific Premier Bancorp were worth $3,514,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PPBI. Barclays PLC increased its position in Pacific Premier Bancorp by 71.4% during the 3rd quarter. Barclays PLC now owns 203,652 shares of the financial services provider’s stock worth $5,123,000 after buying an additional 84,859 shares during the period. Franklin Resources Inc. acquired a new stake in Pacific Premier Bancorp in the 3rd quarter worth about $784,000. JPMorgan Chase & Co. boosted its holdings in Pacific Premier Bancorp by 5.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 150,535 shares of the financial services provider’s stock valued at $3,787,000 after purchasing an additional 8,145 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Pacific Premier Bancorp by 16.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 751,987 shares of the financial services provider’s stock worth $18,740,000 after purchasing an additional 107,544 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Pacific Premier Bancorp by 487.9% during the fourth quarter. SG Americas Securities LLC now owns 29,714 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 24,660 shares during the period. Institutional investors own 93.11% of the company’s stock.

Analyst Upgrades and Downgrades

PPBI has been the topic of a number of analyst reports. DA Davidson downgraded Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 24th. StockNews.com started coverage on Pacific Premier Bancorp in a report on Tuesday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.25.

Insider Buying and Selling

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the transaction, the chief operating officer now directly owns 140,283 shares in the company, valued at approximately $2,844,939.24. This represents a 9.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.29% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Stock Performance

NASDAQ:PPBI opened at $21.34 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $2.07 billion, a PE ratio of 13.01 and a beta of 1.18. Pacific Premier Bancorp, Inc. has a twelve month low of $18.06 and a twelve month high of $30.28. The stock’s 50-day simple moving average is $20.73 and its 200 day simple moving average is $24.09.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. The company had revenue of $144.83 million for the quarter, compared to analyst estimates of $143.25 million. During the same period in the previous year, the firm posted $0.49 EPS. On average, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, May 5th will be issued a dividend of $0.33 per share. 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 dividend payout ratio (DPR) is 86.84%.

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.