ClariVest Asset Management LLC lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 46.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,871 shares of the financial services provider’s stock after selling 32,306 shares during the quarter. ClariVest Asset Management LLC owned 0.06% of Pacific Premier Bancorp worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Pacific Premier Bancorp by 2.8% during the first quarter. Prudential Financial Inc. now owns 66,356 shares of the financial services provider’s stock worth $2,668,000 after acquiring an additional 1,810 shares during the period. Jackson Financial Management purchased a new stake in shares of Pacific Premier Bancorp during the second quarter worth $381,000. Employees Retirement System of Texas increased its position in shares of Pacific Premier Bancorp by 16.1% during the first quarter. Employees Retirement System of Texas now owns 72,000 shares of the financial services provider’s stock worth $2,894,000 after acquiring an additional 10,000 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Pacific Premier Bancorp during the first quarter worth $204,000. Finally, Allianz Asset Management GmbH increased its position in shares of Pacific Premier Bancorp by 14.3% during the first quarter. Allianz Asset Management GmbH now owns 390,533 shares of the financial services provider’s stock worth $15,699,000 after acquiring an additional 48,844 shares during the period. 74.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPBI stock opened at $39.60 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.00. The firm has a market cap of $2.47 billion, a P/E ratio of 22.37, a PEG ratio of 1.94 and a beta of 0.72. Pacific Premier Bancorp, Inc. has a 12 month low of $32.05 and a 12 month high of $46.05.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, July 24th. The financial services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The firm had revenue of $89.32 million for the quarter, compared to analyst estimates of $92.28 million. Pacific Premier Bancorp had a return on equity of 8.61% and a net margin of 24.60%. During the same quarter in the previous year, the firm posted $0.35 EPS. sell-side analysts anticipate that Pacific Premier Bancorp, Inc. will post 2.55 earnings per share for the current year.
A number of research firms have recently weighed in on PPBI. BidaskClub lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Zacks Investment Research raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Stephens reaffirmed a “hold” rating and set a $43.00 price objective on shares of Pacific Premier Bancorp in a research report on Wednesday, July 25th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Pacific Premier Bancorp presently has an average rating of “Hold” and an average target price of $48.00.
In related news, Director Simone Lagomarsino sold 7,828 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $38.58, for a total transaction of $302,004.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.12% of the company’s stock.
About Pacific Premier Bancorp
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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