LPL Financial LLC bought a new stake in shares of Pacific Premier Bancorp (NASDAQ:PPBI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,887 shares of the financial services provider’s stock, valued at approximately $395,000.
A number of other hedge funds also recently modified their holdings of PPBI. BlackRock Inc. boosted its holdings in Pacific Premier Bancorp by 103.1% during the 4th quarter. BlackRock Inc. now owns 4,970,355 shares of the financial services provider’s stock valued at $198,814,000 after acquiring an additional 2,522,820 shares during the period. Earnest Partners LLC purchased a new stake in Pacific Premier Bancorp during the 4th quarter valued at about $65,490,000. Millennium Management LLC boosted its holdings in Pacific Premier Bancorp by 120.4% during the 4th quarter. Millennium Management LLC now owns 938,321 shares of the financial services provider’s stock valued at $37,533,000 after acquiring an additional 512,542 shares during the period. Bank of New York Mellon Corp boosted its holdings in Pacific Premier Bancorp by 79.7% during the 4th quarter. Bank of New York Mellon Corp now owns 597,349 shares of the financial services provider’s stock valued at $23,893,000 after acquiring an additional 265,020 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Pacific Premier Bancorp by 28.2% during the 4th quarter. Victory Capital Management Inc. now owns 733,782 shares of the financial services provider’s stock valued at $29,351,000 after acquiring an additional 161,475 shares during the period. Institutional investors own 85.87% of the company’s stock.
In other Pacific Premier Bancorp news, CEO Steven R. Gardner sold 54,849 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $43.08, for a total value of $2,362,894.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Tom Rice sold 22,036 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $42.76, for a total value of $942,259.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,146 shares of company stock valued at $4,251,269. Company insiders own 4.59% of the company’s stock.
Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. Pacific Premier Bancorp had a return on equity of 8.65% and a net margin of 19.96%. The business had revenue of $87.62 million during the quarter, compared to analysts’ expectations of $83.30 million. During the same quarter last year, the business posted $0.43 EPS. research analysts expect that Pacific Premier Bancorp will post 2.82 earnings per share for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research cut Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday. BidaskClub cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. ValuEngine cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. Piper Jaffray set a $55.00 target price on Pacific Premier Bancorp and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Stephens restated a “hold” rating and set a $45.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.40.
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Pacific Premier Bancorp Profile
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.
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