Schwab Charles Investment Management Inc. Acquires 17,874 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Schwab Charles Investment Management Inc. lifted its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 11.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 178,230 shares of the financial services provider’s stock after purchasing an additional 17,874 shares during the period. Schwab Charles Investment Management Inc. owned 0.39% of Pacific Premier Bancorp worth $6,729,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PPBI. Jupiter Asset Management Ltd. acquired a new stake in Pacific Premier Bancorp during the third quarter valued at approximately $4,263,000. Eagle Asset Management Inc. boosted its holdings in shares of Pacific Premier Bancorp by 1.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 366,793 shares of the financial services provider’s stock worth $14,048,000 after acquiring an additional 6,671 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Pacific Premier Bancorp by 47.3% in the 3rd quarter. TD Asset Management Inc. now owns 24,000 shares of the financial services provider’s stock worth $906,000 after acquiring an additional 7,708 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Pacific Premier Bancorp by 8.1% in the 3rd quarter. American International Group Inc. now owns 26,281 shares of the financial services provider’s stock worth $992,000 after acquiring an additional 1,966 shares in the last quarter. Finally, Chartwell Investment Partners LLC boosted its holdings in shares of Pacific Premier Bancorp by 4.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 100,095 shares of the financial services provider’s stock worth $3,778,000 after acquiring an additional 4,539 shares in the last quarter. 71.35% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on PPBI shares. Piper Jaffray Companies restated a “buy” rating and issued a $49.00 price objective on shares of Pacific Premier Bancorp in a research report on Friday, October 27th. ValuEngine cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $44.75.

Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) traded up $0.20 during mid-day trading on Friday, hitting $40.75. 424,057 shares of the stock traded hands, compared to its average volume of 457,045. The firm has a market cap of $1,874.20, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp, Inc. has a one year low of $32.05 and a one year high of $42.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its 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 during the quarter, compared to analyst estimates of $72.23 million. During the same period in the prior year, the business earned $0.33 EPS. sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.68 earnings per share for the current year.

In related news, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of the stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $36.97 per share, with a total value of $92,425.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven R. Gardner sold 12,500 shares of the stock in a transaction dated Friday, October 27th. The shares were 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 currently owned by corporate insiders.

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About Pacific Premier Bancorp

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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