Prudential Financial Inc. grew its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 12.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,876 shares of the financial services provider’s stock after acquiring an additional 8,350 shares during the period. Prudential Financial Inc.’s holdings in Pacific Premier Bancorp were worth $2,823,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. FineMark National Bank & Trust purchased a new stake in shares of Pacific Premier Bancorp during the third quarter valued at $299,000. Wells Fargo & Company MN grew its holdings in shares of Pacific Premier Bancorp by 6.1% during the third quarter. Wells Fargo & Company MN now owns 165,203 shares of the financial services provider’s stock valued at $6,146,000 after buying an additional 9,557 shares during the last quarter. Comerica Bank grew its holdings in shares of Pacific Premier Bancorp by 4.9% during the third quarter. Comerica Bank now owns 43,957 shares of the financial services provider’s stock valued at $1,316,000 after buying an additional 2,048 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Pacific Premier Bancorp by 40.3% during the third quarter. Victory Capital Management Inc. now owns 1,292,454 shares of the financial services provider’s stock valued at $48,079,000 after buying an additional 371,371 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Pacific Premier Bancorp by 14.6% during the third quarter. Arizona State Retirement System now owns 65,162 shares of the financial services provider’s stock valued at $2,424,000 after buying an additional 8,286 shares during the last quarter. 79.28% of the stock is owned by hedge funds and other institutional investors.

In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas purchased 1,000 shares of the stock in a transaction on Tuesday, December 4th. The shares were bought at an average cost of $28.73 per share, with a total value of $28,730.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders acquired 3,000 shares of company stock worth $84,840. 4.12% of the stock is owned by corporate insiders.

NASDAQ:PPBI opened at $25.50 on Friday. Pacific Premier Bancorp, Inc. has a one year low of $25.38 and a one year high of $46.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Pacific Premier Bancorp had a net margin of 23.18% and a return on equity of 8.54%. The business had revenue of $120.26 million during the quarter, compared to analysts’ expectations of $121.43 million. During the same period in the previous year, the company posted $0.50 earnings per share. Sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 2.45 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the stock. ValuEngine lowered shares of Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday. BidaskClub lowered shares of Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 4th. Finally, Zacks Investment Research lowered shares of Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.00.

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

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