Pacific Premier Bancorp Inc (NASDAQ:PPBI) Position Increased by California Public Employees Retirement System

California Public Employees Retirement System increased its position in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,060 shares of the financial services provider’s stock after buying an additional 1,100 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Pacific Premier Bancorp worth $1,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPBI. Chicago Equity Partners LLC bought a new position in Pacific Premier Bancorp during the first quarter worth approximately $2,204,000. State Street Corp raised its position in shares of Pacific Premier Bancorp by 12.0% in the fourth quarter. State Street Corp now owns 588,866 shares of the financial services provider’s stock worth $20,814,000 after buying an additional 62,973 shares during the period. Swiss National Bank raised its position in shares of Pacific Premier Bancorp by 28.6% in the first quarter. Swiss National Bank now owns 58,474 shares of the financial services provider’s stock worth $2,254,000 after buying an additional 13,000 shares during the period. Acrospire Investment Management LLC acquired a new position in shares of Pacific Premier Bancorp during the first quarter worth about $109,000. Finally, 1st Global Advisors Inc. acquired a new position in shares of Pacific Premier Bancorp during the first quarter worth about $553,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Inc (NASDAQ PPBI) traded down 0.56% during mid-day trading on Friday, reaching $35.35. 147,278 shares of the company’s stock were exchanged. Pacific Premier Bancorp Inc has a one year low of $24.00 and a one year high of $41.90. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 24.51 and a beta of 0.72. The stock has a 50-day moving average of $36.47 and a 200-day moving average of $37.18.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $68.18 million. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, equities research analysts anticipate that Pacific Premier Bancorp Inc will post $1.68 earnings per share for the current year.

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A number of brokerages recently issued reports on PPBI. Stephens lowered shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th. BidaskClub lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. ValuEngine upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, FBR & Co upgraded shares of Pacific Premier Bancorp from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $44.00 in a report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock presently 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 18,750 shares of company stock valued at $684,688 in the last quarter. Corporate 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.

Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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