Wells Fargo & Company MN Reduces Position in Pacific Premier Bancorp, Inc. (PPBI)

Wells Fargo & Company MN lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,172 shares of the financial services provider’s stock after selling 6,589 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of Pacific Premier Bancorp worth $2,950,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PPBI. Citigroup Inc. increased its position in Pacific Premier Bancorp by 664.8% during the second quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 2,646 shares during the period. Ameritas Investment Partners Inc. increased its position in Pacific Premier Bancorp by 52.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 1,177 shares during the period. BNP Paribas Arbitrage SA increased its position in Pacific Premier Bancorp by 4,866.7% during the second quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 3,942 shares during the period. Quantbot Technologies LP increased its position in Pacific Premier Bancorp by 266.5% during the third quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 3,041 shares during the period. Finally, Strs Ohio bought a new position in Pacific Premier Bancorp during the third quarter worth $196,000. 71.35% of the stock is currently owned by institutional investors and hedge funds.

In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were purchased at an average price of $36.97 per share, for a total transaction of $92,425.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Steven R. Gardner sold 12,500 shares of Pacific Premier Bancorp stock in a transaction on Friday, October 27th. The stock was sold at an average price of $41.02, for a total transaction of $512,750.00. The disclosure for this sale can be found here. 4.59% of the stock is owned by insiders.

Shares of Pacific Premier Bancorp, Inc. (PPBI) opened at $40.55 on Friday. Pacific Premier Bancorp, Inc. has a 52 week low of $32.05 and a 52 week high of $42.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a market cap of $1,870.00, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. Pacific Premier Bancorp had a net margin of 21.82% and a return on equity of 9.21%. The firm had revenue of $72.51 million for the quarter, compared to the consensus estimate of $72.23 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. equities analysts forecast that Pacific Premier Bancorp, Inc. will post 1.68 EPS for the current fiscal year.

PPBI has been the topic of a number of research reports. ValuEngine lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday, December 27th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $49.00 target price on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $44.75.

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Pacific Premier Bancorp Profile

Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.

Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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