Peregrine Capital Management LLC raised its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 1.4% during the second quarter, HoldingsChannel reports. The firm owned 267,384 shares of the financial services provider’s stock after purchasing an additional 3,796 shares during the period. Peregrine Capital Management LLC’s holdings in Pacific Premier Bancorp were worth $5,797,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of PPBI. Norges Bank purchased a new position in shares of Pacific Premier Bancorp during the 4th quarter worth $19,736,000. Investment Counselors of Maryland LLC raised its holdings in shares of Pacific Premier Bancorp by 104.5% during the 1st quarter. Investment Counselors of Maryland LLC now owns 775,878 shares of the financial services provider’s stock worth $14,618,000 after acquiring an additional 396,550 shares during the period. Chartwell Investment Partners LLC purchased a new position in shares of Pacific Premier Bancorp during the 1st quarter worth $5,294,000. Emerald Advisers LLC raised its holdings in shares of Pacific Premier Bancorp by 28.6% during the 1st quarter. Emerald Advisers LLC now owns 1,102,832 shares of the financial services provider’s stock worth $20,777,000 after acquiring an additional 245,339 shares during the period. Finally, Macquarie Group Ltd. purchased a new position in shares of Pacific Premier Bancorp during the 4th quarter worth $6,593,000. Institutional investors and hedge funds own 89.20% of the company’s stock.
PPBI has been the topic of several analyst reports. BidaskClub lowered Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, June 16th. ValuEngine upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, June 30th. Zacks Investment Research lowered shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Raymond James upgraded shares of Pacific Premier Bancorp from an “outperform” rating to a “strong-buy” rating in a report on Wednesday, June 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.00.
Shares of PPBI opened at $21.01 on Friday. The firm has a market cap of $1.26 billion, a P/E ratio of 52.53 and a beta of 1.37. Pacific Premier Bancorp, Inc. has a 12-month low of $13.93 and a 12-month high of $34.90. The company’s 50-day moving average price is $20.42 and its 200 day moving average price is $22.56. The company has a current ratio of 0.94, a quick ratio of 1.00 and a debt-to-equity ratio of 0.20.
Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported ($1.41) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($1.44). The company had revenue of $137.19 million during the quarter, compared to analysts’ expectations of $140.67 million. Pacific Premier Bancorp had a net margin of 1.59% and a return on equity of 4.94%. During the same quarter last year, the firm posted $0.62 earnings per share. Equities research analysts forecast that Pacific Premier Bancorp, Inc. will post 0.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, August 6th. Pacific Premier Bancorp’s dividend payout ratio is currently 38.46%.
In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,000 shares of Pacific Premier Bancorp stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $21.13, for a total value of $211,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.81% of the company’s stock.
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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
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