Rhumbline Advisers lifted its stake in Pacific Premier Bancorp (NASDAQ:PPBI) by 98.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,190 shares of the financial services provider’s stock after purchasing an additional 43,861 shares during the period. Rhumbline Advisers owned about 0.19% of Pacific Premier Bancorp worth $3,528,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FSI Group LLC bought a new position in Pacific Premier Bancorp during the 4th quarter worth about $2,077,000. Arizona State Retirement System purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at about $2,608,000. Chartwell Investment Partners LLC lifted its position in shares of Pacific Premier Bancorp by 36.0% during the fourth quarter. Chartwell Investment Partners LLC now owns 136,092 shares of the financial services provider’s stock valued at $5,444,000 after buying an additional 35,997 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Pacific Premier Bancorp by 64.1% during the fourth quarter. Wells Fargo & Company MN now owns 128,283 shares of the financial services provider’s stock valued at $5,132,000 after buying an additional 50,111 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Pacific Premier Bancorp during the fourth quarter valued at about $480,000. Hedge funds and other institutional investors own 86.35% of the company’s stock.
Shares of PPBI opened at $40.20 on Friday. Pacific Premier Bancorp has a 52-week low of $32.05 and a 52-week high of $46.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.04 and a current ratio of 1.05. The firm has a market cap of $1,876.46, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.79 and a beta of 0.67.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The business had revenue of $87.62 million for the quarter, compared to analyst estimates of $83.30 million. Pacific Premier Bancorp had a return on equity of 8.65% and a net margin of 19.96%. During the same quarter in the previous year, the firm earned $0.43 EPS. analysts forecast that Pacific Premier Bancorp will post 2.82 earnings per share for the current fiscal year.
Several brokerages recently commented on PPBI. ValuEngine lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Stephens reaffirmed a “hold” rating and set a $45.00 price objective on shares of Pacific Premier Bancorp in a research note on Tuesday, February 6th. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Saturday, January 6th. Piper Jaffray set a $55.00 price objective on shares of Pacific Premier Bancorp and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, BidaskClub cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $46.40.
In related news, CEO Steven R. Gardner sold 54,849 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $43.08, for a total value of $2,362,894.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Edward Earl Wilcox sold 21,261 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $44.50, for a total value of $946,114.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,146 shares of company stock worth $4,251,269. 4.59% of the stock is owned by insiders.
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About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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