Pacific Premier Bancorp: 8 Different Insiders Have Purchased Shares During The Last 30 Days

May. 4.14 | About: Pacific Premier (PPBI)

Summary

8 insiders purchased Pacific Premier Bancorp's stock within one month.

The stock was sold by no insiders in the month of intensive purchasing.

4 of these 8 insiders increased their holdings by more than 10%.

Pacific Premier Bancorp (NASDAQ:PPBI) operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses and consumers in Southern California.

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Insider buying during the last 30 days

Here is a table of Pacific Premier Bancorp's insider activity during the last 30 days.

Name Title Trade Date Shares Purchased Current Ownership Increase In Shares
Joseph Garrett Director Apr 25-May 1 4,220 45,225 shares +10.3%
Kenneth Boudreau Director April 25 1,000 28,367 shares +3.7%
Jeff Jones Director April 25 3,000 79,402 shares +3.9%
Tom Rice COO April 25 1,500 6,576 shares +29.6%
Michael Karr CCO April 25 2,000 12,711 shares +18.7%
Edward Wilcox CBO April 25 900 33,137 shares +2.8%
Kent Smith CFO April 25 1,700 10,930 shares +18.4%
Steven Gardner CEO April 25 10,000 149,410 shares +7.2%
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There have been 24,320 shares purchased by insiders during the last 30 days.

Insider buying by calendar month

Here is a table of Pacific Premier Bancorp's insider activity by calendar month.

Month Insider buying / shares Insider selling / shares
May 2014 600 0
April 2014 23,720 0
March 2014 0 0
February 2014 1,300 0
January 2014 5,960 0
December 2013 0 0
November 2013 5,600 0
October 2013 0 0
September 2013 0 0
August 2013 600 0
July 2013 0 0
June 2013 0 0
May 2013 4,390 0
April 2013 15,130 0
March 2013 0 0
February 2013 0 0
January 2013 0 0
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There have been 57,300 shares purchased, and there have been zero shares sold by insiders since January, 2013. The month of April, 2014 has seen the most insider buying.

Financials

Pacific Premier Bancorp reported the first-quarter financial results on April 23, with the following highlights:

Net income $2.6 million
Book value $10.96 per share
Tangible book value $9.26 per share
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The eight insiders purchased their shares after these results.

Competition

Pacific Premier Bancorp's competitors include Banc of California (NYSE:BANC), and Bank of Marin Bancorp (NASDAQ:BMRC). Here is a table comparing these companies.

Company PPBI BANC BMRC
Market Cap: 243.20M 251.66M 260.78M
Employees: 229 1,361 281
Qtrly Rev Growth [yoy]: 0.23 0.95 0.04
Revenue: 65.39M 173.90M 66.07M
Operating Margin: 0.38 0.02 0.40
Net Income: 8.99M -2.11M 14.27M
EPS: 0.54 -0.14 2.57
P/E: 26.15 N/A 17.33
PEG (5 yr expected): 1.71 1.10 1.35
P/S: 3.72 1.46 3.96
P/B: 1.29 1.03 1.45
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Pacific Premier Bancorp has the second-lowest P/B ratio among these three companies.

Here is a table of these competitors' insider activities this year.

Company Insider buying / shares Insider selling / shares
BANC 0 0
BMRC 0 16,994
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Only Pacific Premier Bancorp has seen intensive insider buying during the last 30 days.

Conclusion

There have been eight different insiders buying Pacific Premier Bancorp, and there have not been any insiders selling Pacific Premier Bancorp during the last 30 days. Four of these eight insiders increased their holdings by more than 10%. Pacific Premier Bancorp has an insider ownership of 3.50%.

The eight insiders purchased their shares at prices ranging from $13.65 to $14.35. I believe Pacific Premier Bancorp could be a good pick below $14.35, based on the intensive insider buying.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in PPBI over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.