Joseph L. Garrett Acquires 600 Shares of Pacific Premier Bancorp Inc. (PPBI) Stock
Pacific Premier Bancorp Inc. (NASDAQ:PPBI) Director Joseph L. Garrett acquired 600 shares of the stock in a transaction on Tuesday, November 22nd. The shares were acquired at an average cost of $31.40 per share, for a total transaction of $18,840.00. Following the completion of the transaction, the director now directly owns 65,250 shares in the company, valued at approximately $2,048,850. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Pacific Premier Bancorp Inc. (NASDAQ:PPBI) opened at 32.50 on Tuesday. The stock has a 50 day moving average of $27.96 and a 200 day moving average of $26.00. Pacific Premier Bancorp Inc. has a 1-year low of $18.32 and a 1-year high of $33.00. The firm has a market cap of $898.82 million, a PE ratio of 23.31 and a beta of 0.66.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Wednesday, October 19th. The financial services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.09. Pacific Premier Bancorp had a return on equity of 9.67% and a net margin of 21.03%. The firm had revenue of $45 million for the quarter, compared to analyst estimates of $43.46 million. Pacific Premier Bancorp’s quarterly revenue was up 44.7% compared to the same quarter last year. Equities research analysts anticipate that Pacific Premier Bancorp Inc. will post $1.45 earnings per share for the current fiscal year.
Several research analysts have issued reports on PPBI shares. FBR & Co reissued a “hold” rating and set a $29.00 price objective on shares of Pacific Premier Bancorp in a research report on Thursday, October 20th. Zacks Investment Research downgraded shares of Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Pacific Premier Bancorp currently has a consensus rating of “Hold” and an average target price of $24.33.
Hedge funds have recently bought and sold shares of the stock. Vaughan Nelson Investment Management L.P. boosted its stake in Pacific Premier Bancorp by 44.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,234,400 shares of the financial services provider’s stock valued at $32,662,000 after buying an additional 381,175 shares in the last quarter. Royal Bank of Canada boosted its stake in Pacific Premier Bancorp by 46.7% in the second quarter. Royal Bank of Canada now owns 1,049,214 shares of the financial services provider’s stock valued at $25,181,000 after buying an additional 333,975 shares in the last quarter. Vanguard Group Inc. boosted its stake in Pacific Premier Bancorp by 3.7% in the second quarter. Vanguard Group Inc. now owns 951,964 shares of the financial services provider’s stock valued at $22,847,000 after buying an additional 33,551 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Pacific Premier Bancorp by 7.4% in the third quarter. BlackRock Fund Advisors now owns 757,267 shares of the financial services provider’s stock valued at $20,037,000 after buying an additional 52,504 shares in the last quarter. Finally, FJ Capital Management LLC boosted its stake in Pacific Premier Bancorp by 0.3% in the second quarter. FJ Capital Management LLC now owns 733,000 shares of the financial services provider’s stock valued at $17,582,000 after buying an additional 2,000 shares in the last quarter. 75.78% of the stock is currently owned by hedge funds and other institutional investors.
About Pacific Premier Bancorp
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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