Putnam Investments LLC increased its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 112.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,510 shares of the financial services provider’s stock after buying an additional 58,583 shares during the quarter. Putnam Investments LLC owned 0.18% of Pacific Premier Bancorp worth $4,216,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Rhumbline Advisers increased its holdings in Pacific Premier Bancorp by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 101,421 shares of the financial services provider’s stock worth $3,869,000 after purchasing an additional 10,476 shares in the last quarter. Prudential Financial Inc. increased its holdings in Pacific Premier Bancorp by 2.8% during the 1st quarter. Prudential Financial Inc. now owns 66,356 shares of the financial services provider’s stock worth $2,668,000 after purchasing an additional 1,810 shares in the last quarter. Jackson Financial Management bought a new position in Pacific Premier Bancorp during the 2nd quarter worth about $381,000. Employees Retirement System of Texas increased its holdings in Pacific Premier Bancorp by 16.1% during the 1st quarter. Employees Retirement System of Texas now owns 72,000 shares of the financial services provider’s stock worth $2,894,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Argent Capital Management LLC increased its holdings in Pacific Premier Bancorp by 2.4% during the 2nd quarter. Argent Capital Management LLC now owns 127,030 shares of the financial services provider’s stock worth $4,846,000 after purchasing an additional 3,000 shares in the last quarter. 74.55% of the stock is currently owned by institutional investors and hedge funds.

PPBI has been the subject of a number of research reports. Zacks Investment Research upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Friday, August 31st. ValuEngine upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. BidaskClub upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Finally, Stephens reiterated a “hold” rating and set a $43.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, July 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Pacific Premier Bancorp presently has an average rating of “Hold” and an average target price of $48.00.

PPBI stock opened at $38.50 on Monday. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.89 and a beta of 0.72. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.00. Pacific Premier Bancorp, Inc. has a 1 year low of $35.20 and a 1 year high of $46.05.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). The company had revenue of $89.32 million during the quarter, compared to the consensus estimate of $92.28 million. Pacific Premier Bancorp had a net margin of 24.60% and a return on equity of 8.61%. During the same quarter in the previous year, the business earned $0.35 EPS. sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 2.55 earnings per share for the current year.

In other news, Director Simone Lagomarsino sold 7,828 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $38.58, for a total value of $302,004.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Don M. Griffith sold 19,245 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $40.02, for a total value of $770,184.90. The disclosure for this sale can be found here. 4.59% of the stock is owned by company insiders.

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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