Pacific Premier Bancorp, Inc. (PPBI) Stake Lowered by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,172 shares of the financial services provider’s stock after selling 6,589 shares during the quarter. Wells Fargo & Company MN’s holdings in Pacific Premier Bancorp were worth $2,950,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake in shares of Pacific Premier Bancorp by 95.8% in the 2nd quarter. New York State Common Retirement Fund now owns 73,638 shares of the financial services provider’s stock valued at $2,717,000 after purchasing an additional 36,033 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Pacific Premier Bancorp in the 2nd quarter valued at $31,506,000. CNH Partners LLC acquired a new stake in shares of Pacific Premier Bancorp in the 2nd quarter valued at $1,384,000. Eagle Asset Management Inc. boosted its stake in shares of Pacific Premier Bancorp by 1.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 366,793 shares of the financial services provider’s stock valued at $14,048,000 after purchasing an additional 6,671 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Pacific Premier Bancorp by 30.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 160,356 shares of the financial services provider’s stock valued at $5,918,000 after purchasing an additional 37,273 shares in the last quarter. Institutional investors own 71.35% of the company’s stock.

PPBI has been the topic of several recent analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $49.00 target price on shares of Pacific Premier Bancorp in a research note on Friday, October 27th. Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research note on Wednesday, December 27th. Finally, ValuEngine downgraded shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $44.75.

Pacific Premier Bancorp, Inc. (NASDAQ PPBI) opened at $40.55 on Friday. The stock has a market cap of $1,870.00, a PE ratio of 25.03, a P/E/G ratio of 2.02 and a beta of 0.82. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. Pacific Premier Bancorp, Inc. has a 52-week low of $32.05 and a 52-week high of $42.55.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The business had revenue of $72.51 million for the quarter, compared to the consensus estimate of $72.23 million. Pacific Premier Bancorp had a net margin of 21.82% and a return on equity of 9.21%. During the same quarter in the prior year, the company earned $0.33 EPS. analysts forecast that Pacific Premier Bancorp, Inc. will post 1.68 earnings per share for the current year.

In related news, Chairman Steven R. Gardner sold 12,500 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $41.02, for a total transaction of $512,750.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ronald J. Jr. Nicolas purchased 2,500 shares of Pacific Premier Bancorp stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average price of $36.97 per share, for a total transaction of $92,425.00. The disclosure for this purchase can be found here. 4.59% of the stock is owned by corporate insiders.

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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.

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

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