Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & 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 0.17% of Pacific Premier Bancorp worth $2,950,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Citigroup Inc. boosted its holdings 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 valued at $113,000 after acquiring an additional 2,646 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Pacific Premier Bancorp by 52.0% in the second quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock valued at $127,000 after buying an additional 1,177 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Pacific Premier Bancorp by 4,866.7% in the second quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock valued at $148,000 after buying an additional 3,942 shares during the period. Quantbot Technologies LP lifted its stake in shares of Pacific Premier Bancorp by 266.5% in the third quarter. Quantbot Technologies LP now owns 4,182 shares of the financial services provider’s stock valued at $157,000 after buying an additional 3,041 shares during the period. Finally, Strs Ohio acquired a new position in Pacific Premier Bancorp in the third quarter worth about $196,000. 71.84% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on PPBI shares. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Saturday, January 6th. ValuEngine lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $49.00 price target on shares of Pacific Premier Bancorp in a research note on Friday, October 27th. One investment 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $44.75.

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) opened at $40.85 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 current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The firm has a market cap of $1,895.00, a price-to-earnings ratio of 25.22, a PEG ratio of 1.98 and a beta of 0.82.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $72.51 million for the quarter, compared to analyst estimates of $72.23 million. During the same period last year, the business posted $0.33 earnings per share. research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.68 EPS for the current year.

In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas acquired 2,500 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased at an average price of $36.97 per share, with a total value of $92,425.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Steven R. Gardner sold 12,500 shares of the business’s 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 owned by insiders.

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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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