Cullen Frost Bankers Inc. held its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) during the second quarter, Holdings Channel reports. The fund owned 8,000 shares of the financial services provider’s stock at the end of the second quarter. Cullen Frost Bankers Inc.’s holdings in Pacific Premier Bancorp were worth $295,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of PPBI. Westfield Capital Management Co. LP bought a new position in shares of Pacific Premier Bancorp during the first quarter worth $17,676,000. Chicago Equity Partners LLC bought a new position in shares of Pacific Premier Bancorp during the first quarter worth $2,204,000. State Street Corp raised its position in shares of Pacific Premier Bancorp by 54.6% in the first quarter. State Street Corp now owns 910,631 shares of the financial services provider’s stock worth $35,104,000 after buying an additional 321,765 shares in the last quarter. Chartwell Investment Partners LLC bought a new position in shares of Pacific Premier Bancorp during the first quarter worth $3,682,000. Finally, Swiss National Bank raised its position in shares of Pacific Premier Bancorp by 28.6% in the first quarter. Swiss National Bank now owns 58,474 shares of the financial services provider’s stock worth $2,254,000 after buying an additional 13,000 shares in the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pacific Premier Bancorp Inc (PPBI) opened at 36.45 on Wednesday. The firm has a 50-day moving average of $36.45 and a 200-day moving average of $37.20. The firm has a market cap of $1.46 billion, a P/E ratio of 25.28 and a beta of 0.72. Pacific Premier Bancorp Inc has a 12-month low of $24.00 and a 12-month high of $41.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by $0.12. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 9.42%. The business had revenue of $72.10 million during the quarter, compared to analysts’ expectations of $68.18 million. During the same period last year, the company earned $0.38 EPS. On average, equities analysts forecast that Pacific Premier Bancorp Inc will post $1.68 earnings per share for the current fiscal year.

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A number of research analysts recently weighed in on PPBI shares. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Wednesday, June 28th. BidaskClub raised shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $42.00 price target on shares of Pacific Premier Bancorp in a research note on Wednesday, June 28th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $41.00 price target (down from $43.00) on shares of Pacific Premier Bancorp in a research note on Monday, April 17th. Finally, Stephens lowered shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.75.

In other Pacific Premier Bancorp news, Director Simone Lagomarsino sold 6,250 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $36.30, for a total value of $226,875.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 18,750 shares of company stock worth $684,688 in the last ninety days. Insiders own 4.59% of the company’s stock.

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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Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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