Louisiana State Employees Retirement System increased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 13.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,800 shares of the financial services provider’s stock after buying an additional 2,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Pacific Premier Bancorp were worth $737,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. purchased a new position in Pacific Premier Bancorp in the second quarter valued at approximately $203,000. OppenheimerFunds Inc. purchased a new position in Pacific Premier Bancorp in the second quarter valued at approximately $209,000. Citadel Advisors LLC increased its stake in Pacific Premier Bancorp by 32.9% in the first quarter. Citadel Advisors LLC now owns 7,527 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 1,864 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Pacific Premier Bancorp in the third quarter valued at approximately $310,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in Pacific Premier Bancorp in the second quarter valued at approximately $315,000. Hedge funds and other institutional investors own 74.56% of the company’s stock.
Several brokerages have commented on PPBI. Zacks Investment Research lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. ValuEngine upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. BidaskClub upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Stephens reiterated a “hold” rating and issued a $43.00 price target on shares of Pacific Premier Bancorp in a research note on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $46.00.
In other news, Director Don M. Griffith sold 19,245 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $40.02, for a total value of $770,184.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Simone Lagomarsino sold 7,828 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $38.58, for a total value of $302,004.24. The disclosure for this sale can be found here. 4.59% of the stock is currently owned by corporate insiders.
PPBI stock opened at $33.07 on Friday. The company has a market capitalization of $2.16 billion, a PE ratio of 18.68, a PEG ratio of 1.70 and a beta of 0.74. Pacific Premier Bancorp, Inc. has a twelve month low of $33.04 and a twelve month high of $46.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.00.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). The firm had revenue of $89.32 million during the quarter, compared to analyst estimates of $92.28 million. Pacific Premier Bancorp had a net margin of 24.60% and a return on equity of 8.61%. During the same period in the previous year, the company posted $0.35 earnings per share. On average, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 2.55 EPS for the current year.
Pacific Premier Bancorp Profile
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.
Featured Story: Exchange-Traded Funds (ETFs)
Want to see what other hedge funds are holding PPBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pacific Premier Bancorp, Inc. (NASDAQ:PPBI).
Receive News & Ratings for Pacific Premier Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pacific Premier Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.