Pacific Premier Bancorp, Inc. (PPBI) Holdings Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 7.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,283 shares of the financial services provider’s stock after selling 3,598 shares during the period. Russell Investments Group Ltd.’s holdings in Pacific Premier Bancorp were worth $1,610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. State of Alaska Department of Revenue grew its holdings in Pacific Premier Bancorp by 13.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,545 shares of the financial services provider’s stock valued at $541,000 after buying an additional 1,765 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in shares of Pacific Premier Bancorp by 15.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 14,844 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 1,962 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Pacific Premier Bancorp by 13.1% during the 3rd quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the financial services provider’s stock worth $737,000 after purchasing an additional 2,300 shares during the period. MetLife Investment Advisors LLC grew its holdings in shares of Pacific Premier Bancorp by 13.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 21,020 shares of the financial services provider’s stock worth $802,000 after purchasing an additional 2,475 shares during the period. Finally, Argent Capital Management LLC grew its holdings in shares of Pacific Premier Bancorp by 2.4% during the 2nd quarter. Argent Capital Management LLC now owns 127,030 shares of the financial services provider’s stock worth $4,846,000 after purchasing an additional 3,000 shares during the period. Institutional investors own 79.28% of the company’s stock.

PPBI has been the subject of a number of research reports. Zacks Investment Research cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. ValuEngine cut Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, October 22nd. Finally, BidaskClub cut Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $46.00.



Shares of NASDAQ:PPBI opened at $28.38 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.05 and a quick ratio of 1.05. Pacific Premier Bancorp, Inc. has a 1 year low of $26.70 and a 1 year high of $46.05. The stock has a market cap of $1.80 billion, a PE ratio of 11.83, a PEG ratio of 1.47 and a beta of 1.02.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, October 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.01). The firm had revenue of $120.26 million for the quarter, compared to analysts’ expectations of $121.43 million. Pacific Premier Bancorp had a return on equity of 8.54% and a net margin of 23.18%. During the same quarter in the previous year, the firm posted $0.50 EPS. As a group, sell-side analysts forecast that Pacific Premier Bancorp, Inc. will post 2.45 EPS for the current year.

In related news, CFO Ronald J. Jr. Nicolas purchased 1,000 shares of Pacific Premier Bancorp stock in a transaction that occurred on Tuesday, December 4th. The shares were purchased at an average cost of $28.73 per share, with a total value of $28,730.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Don M. Griffith sold 19,245 shares of the business’s stock in a transaction that occurred 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 4.59% of the company’s stock.

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Pacific Premier Bancorp Company 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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