Victory Capital Management Inc. lifted its holdings in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 875.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 397,804 shares of the financial services provider’s stock after acquiring an additional 357,008 shares during the quarter. Victory Capital Management Inc. owned approximately 0.99% of Pacific Premier Bancorp worth $14,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC bought a new position in shares of Pacific Premier Bancorp during the 2nd quarter worth approximately $466,000. BNP Paribas Arbitrage SA boosted its stake in shares of Pacific Premier Bancorp by 4,866.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,023 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 3,942 shares during the period. Legal & General Group Plc boosted its stake in shares of Pacific Premier Bancorp by 50.8% during the 2nd quarter. Legal & General Group Plc now owns 9,769 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 3,291 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Pacific Premier Bancorp by 7.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 310,688 shares of the financial services provider’s stock worth $11,465,000 after acquiring an additional 22,426 shares during the period. Finally, Alps Advisors Inc. boosted its stake in shares of Pacific Premier Bancorp by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 12,184 shares of the financial services provider’s stock worth $450,000 after acquiring an additional 31 shares during the period. Institutional investors own 82.41% of the company’s stock.

Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI) opened at 35.40 on Tuesday. The company has a 50-day moving average price of $36.10 and a 200 day moving average price of $36.83. The company has a market capitalization of $1.42 billion, a P/E ratio of 24.55 and a beta of 0.73. Pacific Premier Bancorp Inc has a 1-year low of $24.00 and a 1-year high of $41.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.12. Pacific Premier Bancorp had a net margin of 19.85% and a return on equity of 9.42%. The firm had revenue of $72.10 million for the quarter, compared to the consensus estimate of $68.18 million. During the same period last year, the company posted $0.38 earnings per share. Equities research analysts anticipate that Pacific Premier Bancorp Inc will post $1.68 EPS for the current year.

Several research analysts have recently commented on PPBI shares. BidaskClub upgraded Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, June 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 target price on shares of Pacific Premier Bancorp in a research note on Wednesday, June 28th. ValuEngine upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Stephens downgraded Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.25.

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In other Pacific Premier Bancorp news, Director Simone Lagomarsino sold 6,250 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $36.25, for a total transaction of $226,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Steven R. Gardner sold 16,666 shares of the stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $35.57, for a total value of $592,809.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,416 shares of company stock valued at $1,271,247. 4.59% of the stock is owned by corporate insiders.

Pacific Premier Bancorp 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 Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.

Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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