California State Teachers Retirement System reduced its position in Pacific Premier Bancorp Inc. (NASDAQ:PPBI) by 1.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,026 shares of the financial services provider’s stock after selling 900 shares during the period. California State Teachers Retirement System owned about 0.21% of Pacific Premier Bancorp worth $1,369,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PPBI. Bank of Montreal Can purchased a new stake in Pacific Premier Bancorp during the second quarter worth $116,000. BlackRock Group LTD purchased a new stake in Pacific Premier Bancorp during the first quarter worth $122,000. Metropolitan Life Insurance Co. NY increased its stake in Pacific Premier Bancorp by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,714 shares of the financial services provider’s stock worth $400,000 after buying an additional 477 shares during the last quarter. Ngam Advisors L.P. purchased a new stake in Pacific Premier Bancorp during the second quarter worth $2,001,000. Finally, American Century Companies Inc. purchased a new stake in Pacific Premier Bancorp during the second quarter worth $2,133,000. Institutional investors own 71.78% of the company’s stock.

Shares of Pacific Premier Bancorp Inc. (NASDAQ:PPBI) traded up 0.45% during trading on Thursday, reaching $27.00. The company’s stock had a trading volume of 93,061 shares. The company has a 50 day moving average of $26.54 and a 200-day moving average of $24.01. The stock has a market cap of $746.71 million, a price-to-earnings ratio of 18.97 and a beta of 0.68. Pacific Premier Bancorp Inc. has a 12-month low of $18.32 and a 12-month high of $27.61.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.04. Pacific Premier Bancorp had a return on equity of 10.45% and a net margin of 22.05%. Analysts forecast that Pacific Premier Bancorp Inc. will post $1.56 EPS for the current year.

A number of analysts recently weighed in on PPBI shares. FIG Partners downgraded Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 21st. FBR & Co boosted their target price on Pacific Premier Bancorp from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, July 21st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.67.

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 Bank’s primary focus market is small and middle market businesses. The Bank offers various deposit products and services, including checking, money market and savings accounts, cash management services, electronic banking services and online bill payment.

5 Day Chart for NASDAQ:PPBI

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