Legal & General Group Plc boosted its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 50.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,769 shares of the financial services provider’s stock after purchasing an additional 3,291 shares during the period. Legal & General Group Plc’s holdings in Pacific Premier Bancorp were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in Pacific Premier Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,184 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 31 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Pacific Premier Bancorp by 7.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 207 shares during the last quarter. Citadel Advisors LLC increased its holdings in Pacific Premier Bancorp by 4.1% in the 1st quarter. Citadel Advisors LLC now owns 10,632 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 415 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Pacific Premier Bancorp by 0.3% in the 1st quarter. Alliancebernstein L.P. now owns 156,640 shares of the financial services provider’s stock valued at $6,038,000 after purchasing an additional 500 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Pacific Premier Bancorp by 2.4% in the 1st quarter. California Public Employees Retirement System now owns 46,060 shares of the financial services provider’s stock valued at $1,776,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.

PPBI has been the subject of several research reports. BidaskClub upgraded shares of Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 target price on shares of Pacific Premier Bancorp in a report on Wednesday, June 28th. ValuEngine upgraded shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Piper Jaffray Companies set a $43.00 target price on shares of Pacific Premier Bancorp and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Stephens downgraded shares of Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $43.00.

Pacific Premier Bancorp Inc (NASDAQ PPBI) opened at 39.50 on Monday. The firm has a 50 day moving average of $35.87 and a 200 day moving average of $36.13. The firm has a market cap of $1.58 billion, a P/E ratio of 27.39 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 released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12). Pacific Premier Bancorp had a return on equity of 9.42% and a net margin of 19.85%. The business had revenue of $72.10 million during the quarter, compared to analyst estimates of $68.18 million. During the same period in the previous year, the company earned $0.38 EPS. On average, equities research analysts expect that Pacific Premier Bancorp Inc will post $1.68 EPS for the current year.

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In other news, Director Simone Lagomarsino sold 6,250 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $36.00, for a total value of $225,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Edward Earl Wilcox sold 25,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $32.81, for a total transaction of $820,250.00. The disclosure for this sale can be found here. Insiders sold 94,166 shares of company stock valued at $3,245,772 in the last three months. Company insiders own 4.59% of the company’s stock.

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.

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

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