Pacific Premier Bancorp Inc (PPBI) Stake Boosted by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA lifted its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 70.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,853 shares of the financial services provider’s stock after acquiring an additional 2,830 shares during the period. BNP Paribas Arbitrage SA’s holdings in Pacific Premier Bancorp were worth $259,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PPBI. Jennison Associates LLC boosted its stake in Pacific Premier Bancorp by 73.1% during the third quarter. Jennison Associates LLC now owns 21,845 shares of the financial services provider’s stock valued at $825,000 after buying an additional 9,227 shares during the last quarter. West Coast Financial LLC bought a new position in Pacific Premier Bancorp during the third quarter valued at approximately $990,000. Emerald Mutual Fund Advisers Trust boosted its stake in Pacific Premier Bancorp by 16.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 950,791 shares of the financial services provider’s stock valued at $35,892,000 after buying an additional 134,550 shares during the last quarter. Emerald Advisers Inc. PA boosted its stake in Pacific Premier Bancorp by 31.0% during the third quarter. Emerald Advisers Inc. PA now owns 1,017,802 shares of the financial services provider’s stock valued at $38,422,000 after buying an additional 240,630 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Pacific Premier Bancorp by 43.9% during the third quarter. Victory Capital Management Inc. now owns 572,307 shares of the financial services provider’s stock valued at $21,604,000 after buying an additional 174,503 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on PPBI shares. Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the company a “buy” rating in a research note on Saturday, August 19th. BidaskClub raised Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, ValuEngine raised Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Pacific Premier Bancorp has an average rating of “Hold” and an average target price of $45.00.
In related news, CFO Ronald J. Jr. Nicolas acquired 2,500 shares of the stock in a transaction dated Monday, November 13th. The stock was acquired at an average cost of $36.97 per share, with a total value of $92,425.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Steven R. Gardner sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $41.02, for a total value of $512,750.00. The disclosure for this sale can be found here. 4.59% of the stock is owned by company insiders.
Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) opened at $38.15 on Thursday. The stock has a market capitalization of $1,740.17, a P/E ratio of 19.71, a PEG ratio of 2.81 and a beta of 0.82. Pacific Premier Bancorp Inc has a one year low of $32.05 and a one year high of $42.55. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.47.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $72.51 million during the quarter, compared to analyst estimates of $72.23 million. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. During the same period last year, the company earned $0.33 EPS. sell-side analysts predict that Pacific Premier Bancorp Inc will post 1.68 earnings per share for the current fiscal year.
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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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