TIAA CREF Investment Management LLC lowered its position in Pacific Premier Bancorp (NASDAQ:PPBI) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,724 shares of the financial services provider’s stock after selling 5,931 shares during the period. TIAA CREF Investment Management LLC owned 0.44% of Pacific Premier Bancorp worth $8,189,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. LS Investment Advisors LLC bought a new position in Pacific Premier Bancorp in the fourth quarter worth $130,000. Financial Advisors Network Inc. bought a new position in Pacific Premier Bancorp in the fourth quarter worth $200,000. SG Americas Securities LLC bought a new position in Pacific Premier Bancorp in the third quarter worth $212,000. OppenheimerFunds Inc. bought a new position in Pacific Premier Bancorp in the fourth quarter worth $216,000. Finally, Citadel Advisors LLC acquired a new position in Pacific Premier Bancorp during the fourth quarter worth $227,000. 85.87% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:PPBI opened at $40.40 on Wednesday. The company has a market cap of $1,909.01, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.82 and a beta of 0.67. Pacific Premier Bancorp has a twelve month low of $32.05 and a twelve month high of $46.05. The company has a current ratio of 1.05, a quick ratio of 1.04 and a debt-to-equity ratio of 0.52.
Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The firm had revenue of $87.62 million for the quarter, compared to analyst estimates of $83.30 million. Pacific Premier Bancorp had a return on equity of 8.65% and a net margin of 19.96%. During the same quarter in the previous year, the firm earned $0.43 EPS. research analysts forecast that Pacific Premier Bancorp will post 2.82 EPS for the current fiscal year.
In other news, COO Tom Rice sold 22,036 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $42.76, for a total transaction of $942,259.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven R. Gardner sold 54,849 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $43.08, for a total value of $2,362,894.92. The disclosure for this sale can be found here. Insiders sold a total of 98,146 shares of company stock valued at $4,251,269 over the last 90 days. 4.59% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on the company. ValuEngine lowered Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Zacks Investment Research lowered Pacific Premier Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Piper Jaffray set a $55.00 price target on Pacific Premier Bancorp and gave the company a “buy” rating in a report on Tuesday, February 13th. Stephens reiterated a “hold” rating and issued a $45.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, February 6th. Finally, BidaskClub upgraded Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $46.40.
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About Pacific Premier Bancorp
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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