Mesirow Financial Investment Management Equity Management Cuts Stake in Pacific Premier Bancorp, Inc. (PPBI)

Mesirow Financial Investment Management Equity Management cut its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 356,150 shares of the financial services provider’s stock after selling 7,440 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Pacific Premier Bancorp were worth $13,248,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PPBI. Ironwood Financial llc purchased a new stake in Pacific Premier Bancorp in the third quarter valued at $398,000. Alps Advisors Inc. purchased a new stake in Pacific Premier Bancorp in the third quarter valued at $469,000. First Trust Advisors LP raised its position in Pacific Premier Bancorp by 6.3% in the third quarter. First Trust Advisors LP now owns 90,252 shares of the financial services provider’s stock valued at $3,357,000 after purchasing an additional 5,375 shares during the period. Texas Permanent School Fund raised its position in Pacific Premier Bancorp by 12.0% in the third quarter. Texas Permanent School Fund now owns 28,263 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 3,038 shares during the period. Finally, West Coast Financial LLC purchased a new stake in Pacific Premier Bancorp in the third quarter valued at $976,000. 74.63% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Simone Lagomarsino sold 7,828 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $38.58, for a total transaction of $302,004.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Don M. Griffith sold 19,245 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $40.02, for a total value of $770,184.90. The disclosure for this sale can be found here. Insiders own 4.12% of the company’s stock.



A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. ValuEngine raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. BidaskClub raised Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Stephens reaffirmed a “hold” rating and issued a $43.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Pacific Premier Bancorp presently has an average rating of “Hold” and an average price target of $46.00.

Shares of NASDAQ PPBI opened at $29.10 on Wednesday. Pacific Premier Bancorp, Inc. has a twelve month low of $26.70 and a twelve month high of $46.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.71 billion, a PE ratio of 16.44, a PEG ratio of 1.47 and a beta of 0.74.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.63 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.01). Pacific Premier Bancorp had a net margin of 23.18% and a return on equity of 8.54%. The firm had revenue of $120.26 million during the quarter, compared to analyst estimates of $121.43 million. During the same period in the previous year, the firm posted $0.50 earnings per share. As a group, research analysts anticipate that Pacific Premier Bancorp, Inc. will post 2.47 EPS for the current year.

Pacific Premier Bancorp 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. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.

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

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