Pacific Premier Bancorp Inc (PPBI) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lessened its position in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 519,870 shares of the financial services provider’s stock after selling 13,465 shares during the period. Westfield Capital Management Co. LP owned about 1.12% of Pacific Premier Bancorp worth $19,625,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in Pacific Premier Bancorp by 95.8% during the 2nd quarter. New York State Common Retirement Fund now owns 73,638 shares of the financial services provider’s stock worth $2,717,000 after buying an additional 36,033 shares during the last quarter. Janus Henderson Group PLC bought a new position in Pacific Premier Bancorp during the 2nd quarter worth approximately $31,506,000. TD Asset Management Inc. bought a new position in Pacific Premier Bancorp during the 2nd quarter worth approximately $601,000. CNH Partners LLC bought a new position in Pacific Premier Bancorp during the 2nd quarter worth approximately $1,384,000. Finally, Jennison Associates LLC bought a new position in Pacific Premier Bancorp during the 2nd quarter worth approximately $466,000. 71.84% of the stock is currently owned by institutional investors.

Shares of Pacific Premier Bancorp Inc (PPBI) opened at $38.90 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1,850.00, a P/E ratio of 20.93, a PEG ratio of 2.98 and a beta of 0.82. Pacific Premier Bancorp Inc has a 1 year low of $32.05 and a 1 year high of $42.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $72.51 million for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.33 EPS. research analysts predict that Pacific Premier Bancorp Inc will post 1.68 earnings per share for the current fiscal year.

A number of research firms have commented on PPBI. Piper Jaffray Companies reaffirmed a “buy” rating and set a $49.00 target price on shares of Pacific Premier Bancorp in a report on Friday, October 27th. ValuEngine downgraded Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Finally, BidaskClub upgraded Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.00.

In other news, President Edward Earl Wilcox sold 25,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Steven R. Gardner sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $34.53, for a total value of $690,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 77,500 shares of company stock worth $2,714,150 over the last quarter. Insiders own 4.59% of the company’s stock.

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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.

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

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