Legal & General Group Plc grew its stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 50.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,769 shares of the financial services provider’s stock after purchasing an additional 3,291 shares during the period. Legal & General Group Plc’s holdings in Pacific Premier Bancorp were worth $361,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in shares of Pacific Premier Bancorp by 7.6% in the first quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 207 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Pacific Premier Bancorp during the second quarter worth $113,000. North Star Investment Management Corp. purchased a new stake in shares of Pacific Premier Bancorp during the second quarter worth $133,000. PNC Financial Services Group Inc. purchased a new stake in shares of Pacific Premier Bancorp during the first quarter worth $188,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Pacific Premier Bancorp during the first quarter worth $201,000. 81.89% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman Steven R. Gardner sold 20,000 shares of Pacific Premier Bancorp stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $34.53, for a total value of $690,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Edward Earl Wilcox sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $32.81, for a total transaction of $820,250.00. The disclosure for this sale can be found here. Insiders sold 87,916 shares of company stock worth $3,019,210 in the last quarter. Company insiders own 4.59% of the company’s stock.
Pacific Premier Bancorp Inc (PPBI) opened at 39.85 on Wednesday. Pacific Premier Bancorp Inc has a 12-month low of $24.00 and a 12-month high of $41.90. The stock’s 50 day moving average is $36.47 and its 200 day moving average is $36.27. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 27.64 and a beta of 0.73.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.12). The company had revenue of $72.10 million during the quarter, compared to analysts’ expectations of $68.18 million. Pacific Premier Bancorp had a return on equity of 9.42% and a net margin of 19.85%. During the same period in the prior year, the business posted $0.38 EPS. Equities analysts predict that Pacific Premier Bancorp Inc will post $1.68 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on PPBI. ValuEngine downgraded Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Stephens cut Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. BidaskClub cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Piper Jaffray Companies set a $43.00 price objective on Pacific Premier Bancorp and gave the company a “buy” rating in a research note on Saturday, August 19th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $42.00 price objective on shares of Pacific Premier Bancorp in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.00.
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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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