Principal Financial Group Inc. boosted its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 441,164 shares of the financial services provider’s stock after acquiring an additional 12,867 shares during the period. Principal Financial Group Inc. owned 1.10% of Pacific Premier Bancorp worth $16,279,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Alps Advisors Inc. boosted its holdings in Pacific Premier Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,184 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 31 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Pacific Premier Bancorp by 7.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 207 shares in the last quarter. Citadel Advisors LLC boosted its holdings in Pacific Premier Bancorp by 4.1% in the 1st quarter. Citadel Advisors LLC now owns 10,632 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 415 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Pacific Premier Bancorp by 0.3% in the 1st quarter. Alliancebernstein L.P. now owns 156,640 shares of the financial services provider’s stock valued at $6,038,000 after purchasing an additional 500 shares in the last quarter. Finally, Ngam Advisors L.P. boosted its holdings in Pacific Premier Bancorp by 0.8% in the 1st quarter. Ngam Advisors L.P. now owns 134,335 shares of the financial services provider’s stock valued at $5,179,000 after purchasing an additional 1,044 shares in the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

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A number of equities research analysts have weighed in on the company. ValuEngine raised Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Monday, July 24th. BidaskClub lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Stephens lowered Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $42.00 price target on shares of Pacific Premier Bancorp in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $42.25.

In related news, CEO Steven R. Gardner sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $34.76, for a total transaction of $434,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Edward Earl Wilcox sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $32.81, for a total transaction of $820,250.00. The disclosure for this sale can be found here. Insiders have sold 94,166 shares of company stock worth $3,245,772 in the last quarter. Company insiders own 4.59% of the company’s stock.

Shares of Pacific Premier Bancorp Inc (NASDAQ PPBI) opened at 34.55 on Monday. The company has a 50-day moving average price of $35.38 and a 200-day moving average price of $36.41. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 23.96 and a beta of 0.73. Pacific Premier Bancorp Inc has a 1-year low of $24.00 and a 1-year high of $41.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 EPS 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 company had revenue of $72.10 million for the quarter, compared to analyst estimates of $68.18 million. During the same quarter in the prior year, the business earned $0.38 EPS. On average, equities analysts expect that Pacific Premier Bancorp Inc will post $1.68 earnings per share for the current fiscal year.

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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