Arizona State Retirement System decreased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 56,876 shares of the financial services provider’s stock after selling 4,426 shares during the quarter. Arizona State Retirement System’s holdings in Pacific Premier Bancorp were worth $2,170,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Sciencast Management LP bought a new stake in Pacific Premier Bancorp in the first quarter valued at approximately $202,000. Quadrature Capital Ltd bought a new stake in Pacific Premier Bancorp in the first quarter valued at approximately $204,000. Envestnet Asset Management Inc. raised its stake in Pacific Premier Bancorp by 132.2% in the first quarter. Envestnet Asset Management Inc. now owns 6,122 shares of the financial services provider’s stock valued at $246,000 after buying an additional 3,485 shares during the period. Citadel Advisors LLC raised its stake in Pacific Premier Bancorp by 32.9% in the first quarter. Citadel Advisors LLC now owns 7,527 shares of the financial services provider’s stock valued at $303,000 after buying an additional 1,864 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Pacific Premier Bancorp in the second quarter valued at approximately $315,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.
Several analysts have issued reports on PPBI shares. BidaskClub upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Stephens restated a “hold” rating and issued a $43.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, July 25th. ValuEngine upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research lowered Pacific Premier Bancorp from a “hold” rating to a “strong sell” rating in a research note on Friday, June 29th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $48.00.
Shares of NASDAQ PPBI opened at $39.60 on Thursday. The company has a market cap of $2.47 billion, a PE ratio of 22.37, a PEG ratio of 1.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.01. Pacific Premier Bancorp, Inc. has a 1-year low of $32.05 and a 1-year high of $46.05.
Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). The firm had revenue of $89.32 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.35 EPS. equities research analysts predict 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 stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $38.58, for a total transaction of $302,004.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.12% of the stock is currently owned by company insiders.
Pacific Premier Bancorp Company 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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