Wells Fargo & Company MN lowered its position 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 & Exchange Commission. The firm owned 78,172 shares of the financial services provider’s stock after selling 6,589 shares during the period. Wells Fargo & Company MN owned approximately 0.17% of Pacific Premier Bancorp worth $2,950,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PPBI. New York State Common Retirement Fund boosted its holdings in Pacific Premier Bancorp by 95.8% in the second quarter. New York State Common Retirement Fund now owns 73,638 shares of the financial services provider’s stock worth $2,717,000 after purchasing an additional 36,033 shares during the period. Janus Henderson Group PLC acquired a new position in shares of Pacific Premier Bancorp during the second quarter valued at $31,506,000. CNH Partners LLC acquired a new position in shares of Pacific Premier Bancorp during the second quarter valued at $1,384,000. Eagle Asset Management Inc. boosted its holdings in shares of Pacific Premier Bancorp by 1.9% during the third quarter. Eagle Asset Management Inc. now owns 366,793 shares of the financial services provider’s stock valued at $14,048,000 after acquiring an additional 6,671 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Pacific Premier Bancorp by 7.0% during the third quarter. Bank of New York Mellon Corp now owns 332,329 shares of the financial services provider’s stock valued at $12,546,000 after acquiring an additional 21,641 shares during the period. Institutional investors own 71.87% of the company’s stock.
Several equities analysts have recently issued reports on the stock. 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 report on Saturday, January 6th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $49.00 price objective on shares of Pacific Premier Bancorp in a report on Friday, October 27th. Finally, ValuEngine downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.75.
In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas bought 2,500 shares of the stock in a transaction on Monday, November 13th. The shares were bought at an average price of $36.97 per share, with a total value of $92,425.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.59% of the company’s stock.
Pacific Premier Bancorp, Inc. (PPBI) remained flat at $$41.80 during midday trading on Friday. The stock had a trading volume of 422,238 shares, compared to its average volume of 359,156. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1,933.04, a price-to-earnings ratio of 26.97, a P/E/G ratio of 1.91 and a beta of 0.72. Pacific Premier Bancorp, Inc. has a 52 week low of $32.05 and a 52 week high of $42.55.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. Pacific Premier Bancorp had a return on equity of 8.65% and a net margin of 19.96%. The firm had revenue of $87.62 million for the quarter, compared to the consensus estimate of $83.30 million. During the same quarter in the previous year, the company earned $0.43 EPS. analysts anticipate that Pacific Premier Bancorp, Inc. will post 2.73 earnings per share for the current year.
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Pacific Premier Bancorp Company 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.
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