14,670 Shares in Pacific Premier Bancorp, Inc. (PPBI) Acquired by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan acquired a new position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,670 shares of the financial services provider’s stock, valued at approximately $587,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its position in Pacific Premier Bancorp by 103.1% in the fourth quarter. BlackRock Inc. now owns 4,970,355 shares of the financial services provider’s stock worth $198,814,000 after acquiring an additional 2,522,820 shares during the period. Earnest Partners LLC bought a new stake in Pacific Premier Bancorp in the fourth quarter worth about $65,490,000. Dimensional Fund Advisors LP raised its position in Pacific Premier Bancorp by 11.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,380,565 shares of the financial services provider’s stock worth $52,116,000 after acquiring an additional 145,315 shares during the period. Emerald Advisers Inc. PA raised its position in Pacific Premier Bancorp by 5.3% in the fourth quarter. Emerald Advisers Inc. PA now owns 1,071,932 shares of the financial services provider’s stock worth $42,877,000 after acquiring an additional 54,130 shares during the period. Finally, Janus Henderson Group PLC raised its position in Pacific Premier Bancorp by 15.7% in the third quarter. Janus Henderson Group PLC now owns 988,126 shares of the financial services provider’s stock worth $37,302,000 after acquiring an additional 134,317 shares during the period. 86.35% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) opened at $40.05 on Monday. Pacific Premier Bancorp, Inc. has a 12-month low of $32.05 and a 12-month high of $46.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.05 and a quick ratio of 1.04. The stock has a market cap of $1,851.96, a P/E ratio of 19.73, a PEG ratio of 1.77 and a beta of 0.67.

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 (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Pacific Premier Bancorp had a net margin of 19.96% and a return on equity of 8.65%. The company had revenue of $87.62 million for the quarter, compared to analyst estimates of $83.30 million. During the same quarter in the previous year, the firm posted $0.43 earnings per share. sell-side analysts expect that Pacific Premier Bancorp, Inc. will post 2.82 EPS for the current year.

Several brokerages have commented on PPBI. BidaskClub raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, February 22nd. Zacks Investment Research raised shares of Pacific Premier Bancorp from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Thursday, February 15th. ValuEngine lowered shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. Piper Jaffray set a $55.00 price target on shares of Pacific Premier Bancorp and gave the company a “buy” rating in a research report on Tuesday, February 13th. Finally, Stephens reissued a “hold” rating and issued a $45.00 price target on shares of Pacific Premier Bancorp in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $46.40.

In related news, COO Tom Rice sold 22,036 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $42.76, for a total transaction of $942,259.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Edward Earl Wilcox sold 21,261 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $44.50, for a total transaction of $946,114.50. The disclosure for this sale can be found here. In the last three months, insiders sold 98,146 shares of company stock worth $4,251,269. Insiders own 4.59% of the company’s stock.

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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.

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

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