Emerald Acquisition Ltd. acquired a new position in Pacific Premier Bancorp Inc. (NASDAQ:PPBI) during the second quarter, Holdings Channel reports. The institutional investor acquired 148,909 shares of the financial services provider’s stock, valued at approximately $3,574,000. Emerald Acquisition Ltd. owned approximately 0.54% of Pacific Premier Bancorp as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in Pacific Premier Bancorp by 341.4% in the first quarter. Royal Bank of Canada now owns 715,239 shares of the financial services provider’s stock worth $15,284,000 after buying an additional 553,214 shares during the last quarter. Diligent Investors LLC bought a new stake in Pacific Premier Bancorp during the second quarter worth about $7,744,000. Wedge Capital Management L L P NC boosted its stake in Pacific Premier Bancorp by 713.3% in the second quarter. Wedge Capital Management L L P NC now owns 293,609 shares of the financial services provider’s stock worth $4,613,000 after buying an additional 257,509 shares during the last quarter. State Street Corp boosted its stake in Pacific Premier Bancorp by 36.7% in the first quarter. State Street Corp now owns 412,792 shares of the financial services provider’s stock worth $8,822,000 after buying an additional 110,788 shares during the last quarter. Finally, Context BH Capital Management LP boosted its stake in Pacific Premier Bancorp by 54.5% in the second quarter. Context BH Capital Management LP now owns 290,272 shares of the financial services provider’s stock worth $6,967,000 after buying an additional 102,390 shares during the last quarter. 71.78% of the stock is owned by hedge funds and other institutional investors.

Shares of Pacific Premier Bancorp Inc. (NASDAQ:PPBI) traded up 0.45% during midday trading on Thursday, hitting $27.00. 93,061 shares of the company were exchanged. The firm has a market cap of $746.71 million, a P/E ratio of 18.97 and a beta of 0.68. Pacific Premier Bancorp Inc. has a one year low of $18.32 and a one year high of $27.61. The company’s 50 day moving average price is $26.54 and its 200 day moving average price is $24.01.

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%. Equities analysts expect that Pacific Premier Bancorp Inc. will post $1.56 EPS for the current year.

PPBI has been the topic of a number of recent research reports. FBR & Co initiated coverage on Pacific Premier Bancorp in a research note on Thursday, June 30th. They issued an “outperform” rating and a $28.00 target price on the stock. FIG Partners cut Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $24.67.

About Pacific Premier Bancorp

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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