Advisors Asset Management Inc. boosted its stake in shares of Pacific Premier Bancorp Inc. (NASDAQ:PPBI) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 22,015 shares of the financial services provider’s stock after buying an additional 941 shares during the period. Advisors Asset Management Inc. owned about 0.08% of Pacific Premier Bancorp worth $528,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in PPBI. Bank of Montreal Can purchased a new position in shares of Pacific Premier Bancorp during the second quarter valued at approximately $116,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Pacific Premier Bancorp during the second quarter valued at approximately $234,000. Oxford Asset Management purchased a new position in shares of Pacific Premier Bancorp during the second quarter valued at approximately $278,000. Metropolitan Life Insurance Co. NY raised its position in shares of Pacific Premier Bancorp by 2.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,714 shares of the financial services provider’s stock valued at $400,000 after buying an additional 477 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Pacific Premier Bancorp by 24.1% in the second quarter. Swiss National Bank now owns 34,374 shares of the financial services provider’s stock valued at $825,000 after buying an additional 6,674 shares in the last quarter. 71.78% of the stock is owned by institutional investors and hedge funds.
Pacific Premier Bancorp Inc. (NASDAQ:PPBI) traded up 1.044% during midday trading on Tuesday, reaching $26.605. The company had a trading volume of 18,023 shares. Pacific Premier Bancorp Inc. has a 1-year low of $18.32 and a 1-year high of $27.61. The company has a market capitalization of $735.79 million, a P/E ratio of 18.696 and a beta of 0.68. The firm has a 50-day moving average of $26.71 and a 200 day moving average of $24.14.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Wednesday, July 20th. The financial services provider reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.04. Pacific Premier Bancorp had a net margin of 22.05% and a return on equity of 10.45%. On average, equities research analysts forecast that Pacific Premier Bancorp Inc. will post $1.56 EPS for the current year.
Several equities analysts have recently weighed in on the company. FBR & Co raised their price target on Pacific Premier Bancorp from $28.00 to $29.00 and gave the company an “outperform” rating in a report on Thursday, July 21st. FIG Partners downgraded Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Pacific Premier Bancorp presently has a consensus rating of “Buy” and an average target price of $24.67.
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 Bank’s primary focus market is small and middle market businesses. The Bank offers various deposit products and services, including checking, money market and savings accounts, cash management services, electronic banking services and online bill payment.
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