Janus Henderson Group PLC Purchases New Position in Pacific Premier Bancorp Inc (PPBI)
Janus Henderson Group PLC purchased a new position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 853,809 shares of the financial services provider’s stock, valued at approximately $31,506,000. Janus Henderson Group PLC owned about 2.13% of Pacific Premier Bancorp at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of PPBI. Envestnet Asset Management Inc. lifted its stake in shares of Pacific Premier Bancorp by 7.6% during the 1st 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 in the last quarter. First Mercantile Trust Co. purchased a new position in shares of Pacific Premier Bancorp during the 2nd quarter valued at $113,000. Citigroup Inc. lifted its stake in shares of Pacific Premier Bancorp by 664.8% during the 2nd quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock valued at $113,000 after buying an additional 2,646 shares in the last quarter. North Star Investment Management Corp. purchased a new position in shares of Pacific Premier Bancorp during the 2nd quarter valued at $133,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Pacific Premier Bancorp by 4,866.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock valued at $148,000 after buying an additional 3,942 shares in the last quarter. Institutional investors and hedge funds own 81.89% of the company’s stock.
Pacific Premier Bancorp Inc (NASDAQ:PPBI) opened at 40.45 on Tuesday. The company’s 50 day moving average is $36.47 and its 200-day moving average is $36.27. Pacific Premier Bancorp Inc has a 1-year low of $24.00 and a 1-year high of $41.90. The stock has a market cap of $1.62 billion, a PE ratio of 28.05 and a beta of 0.73.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.12). The company had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $68.18 million. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 9.42%. During the same period in the previous year, the business earned $0.38 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp Inc will post $1.68 earnings per share for the current fiscal year.
In other Pacific Premier Bancorp news, Director Zareh Hovik Sarrafian purchased 1,500 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average cost of $32.65 per share, with a total value of $48,975.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Steven R. Gardner sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.53, for a total transaction of $690,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 87,916 shares of company stock worth $3,019,210. Insiders own 4.59% of the company’s stock.
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A number of research analysts recently weighed in on PPBI shares. BidaskClub cut shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. ValuEngine upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Piper Jaffray Companies set a $43.00 target price on shares of Pacific Premier Bancorp and gave the company a “buy” rating in a research note on Saturday, August 19th. Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 target price on shares of Pacific Premier Bancorp in a research note on Wednesday, June 28th. Finally, Stephens cut shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.00.
Pacific Premier Bancorp 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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