Sterling Capital Management LLC held its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,141 shares of the financial services provider’s stock at the end of the 2nd quarter. Sterling Capital Management LLC owned approximately 0.13% of Pacific Premier Bancorp worth $1,961,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in shares of Pacific Premier Bancorp by 7.6% during the first quarter. Envestnet Asset Management Inc. now owns 2,926 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 207 shares in the last quarter. Citigroup Inc. increased its position in shares of Pacific Premier Bancorp by 664.8% during the second quarter. Citigroup Inc. now owns 3,044 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,646 shares in the last quarter. First Mercantile Trust Co. acquired a new stake in shares of Pacific Premier Bancorp during the second quarter worth about $113,000. Ameritas Investment Partners Inc. increased its position in shares of Pacific Premier Bancorp by 52.0% during the second quarter. Ameritas Investment Partners Inc. now owns 3,441 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 1,177 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Pacific Premier Bancorp during the second quarter worth about $133,000. 81.89% of the stock is owned by institutional investors.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $68.18 million. During the same period in the prior year, the business earned $0.38 EPS.

PPBI has been the topic of a number of research analyst reports. BidaskClub cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. ValuEngine cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies set a $43.00 target price on Pacific Premier Bancorp and gave the stock a “buy” rating in a research report on Saturday, August 19th. Stephens cut Pacific Premier Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $42.00 target price on shares of Pacific Premier Bancorp in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $43.00.

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In other news, Director Zareh Hovik Sarrafian purchased 1,500 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were bought at an average price of $32.65 per share, for a total transaction of $48,975.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Steven R. Gardner sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $34.53, for a total transaction of $690,600.00. The disclosure for this sale can be found here. Insiders sold 87,916 shares of company stock worth $3,019,210 in the last three months. 4.59% of the stock is currently owned by corporate insiders.

Pacific Premier Bancorp Company 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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