Pacific Premier Bancorp Inc (PPBI) Position Boosted by Vanguard Group Inc.
Vanguard Group Inc. increased its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,341 shares of the financial services provider’s stock after buying an additional 43,129 shares during the period. Vanguard Group Inc.’s holdings in Pacific Premier Bancorp were worth $43,343,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in PPBI. Scholtz & Company LLC raised its position in Pacific Premier Bancorp by 32.1% in the first quarter. Scholtz & Company LLC now owns 58,510 shares of the financial services provider’s stock worth $2,256,000 after buying an additional 14,210 shares during the period. Chartwell Investment Partners LLC bought a new position in Pacific Premier Bancorp during the first quarter worth $3,682,000. Ngam Advisors L.P. raised its position in Pacific Premier Bancorp by 0.8% in the first quarter. Ngam Advisors L.P. now owns 134,335 shares of the financial services provider’s stock worth $5,179,000 after buying an additional 1,044 shares during the period. PNC Financial Services Group Inc. bought a new position in Pacific Premier Bancorp during the first quarter worth $188,000. Finally, Westfield Capital Management Co. LP bought a new position in Pacific Premier Bancorp during the first quarter worth $17,676,000. Institutional investors and hedge funds own 63.10% of the company’s stock.
Pacific Premier Bancorp Inc (NASDAQ:PPBI) traded down 0.56% during trading on Friday, hitting $35.35. The company had a trading volume of 147,278 shares. Pacific Premier Bancorp Inc has a 12-month low of $24.00 and a 12-month high of $41.90. The firm has a 50-day moving average of $36.47 and a 200 day moving average of $37.18. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 24.51 and a beta of 0.72.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $68.18 million. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, equities research analysts forecast that Pacific Premier Bancorp Inc will post $1.68 earnings per share for the current year.
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A number of equities analysts recently weighed in on the company. BidaskClub lowered Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Stephens lowered Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 26th. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 price target on shares of Pacific Premier Bancorp in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $41.75.
In other Pacific Premier Bancorp news, Director Simone Lagomarsino sold 6,250 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $37.00, for a total value of $231,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 18,750 shares of company stock valued at $684,688. 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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