Schwab Charles Investment Management Inc. increased its stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,083 shares of the financial services provider’s stock after buying an additional 16,535 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Pacific Premier Bancorp were worth $4,745,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PPBI. Acrospire Investment Management LLC bought a new position in shares of Pacific Premier Bancorp during the first quarter valued at approximately $109,000. Envestnet Asset Management Inc. increased its position 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 buying an additional 207 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Pacific Premier Bancorp during the first quarter valued at $188,000. Virginia Retirement Systems ET AL acquired a new position in shares of Pacific Premier Bancorp during the first quarter valued at $204,000. Finally, UBS Asset Management Americas Inc. acquired a new position in shares of Pacific Premier Bancorp during the first quarter valued at $214,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) traded down 0.56% during trading on Friday, reaching $35.35. 147,278 shares of the company traded hands. Pacific Premier Bancorp Inc has a 1-year low of $24.00 and a 1-year high of $41.90. The stock’s 50 day moving average is $36.47 and its 200 day moving average is $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 issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $72.10 million during the quarter, compared to analysts’ expectations of $68.18 million. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, analysts forecast that Pacific Premier Bancorp Inc will post $1.68 EPS for the current year.

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Several equities analysts recently weighed in on PPBI shares. BidaskClub downgraded shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. ValuEngine upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Stephens downgraded shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $41.00 price target (down previously from $43.00) on shares of Pacific Premier Bancorp in a report on Monday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company currently 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 business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $36.30, for a total value of $226,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 18,750 shares of company stock valued at $684,688. 4.59% of the stock is owned by company insiders.

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 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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