Comerica Bank Trims Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Comerica Bank cut its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBIGet Rating) by 9.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,431 shares of the financial services provider’s stock after selling 8,225 shares during the period. Comerica Bank owned approximately 0.08% of Pacific Premier Bancorp worth $2,775,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Pacific Premier Bancorp by 1.3% during the first quarter. BlackRock Inc. now owns 13,907,212 shares of the financial services provider’s stock worth $491,621,000 after purchasing an additional 174,646 shares during the period. Vanguard Group Inc. raised its stake in Pacific Premier Bancorp by 3.5% during the first quarter. Vanguard Group Inc. now owns 10,993,185 shares of the financial services provider’s stock worth $388,609,000 after purchasing an additional 366,905 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pacific Premier Bancorp by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,100,097 shares of the financial services provider’s stock valued at $180,292,000 after acquiring an additional 60,891 shares during the period. State Street Corp raised its stake in shares of Pacific Premier Bancorp by 10.5% in the 1st quarter. State Street Corp now owns 4,744,931 shares of the financial services provider’s stock valued at $167,733,000 after acquiring an additional 452,218 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of Pacific Premier Bancorp by 4.0% in the 2nd quarter. Macquarie Group Ltd. now owns 1,928,013 shares of the financial services provider’s stock valued at $56,375,000 after acquiring an additional 74,704 shares during the period. 94.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Steven R. Gardner sold 102,638 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $31.56, for a total transaction of $3,239,255.28. Following the sale, the chief executive officer now directly owns 368,482 shares of the company’s stock, valued at approximately $11,629,291.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Pacific Premier Bancorp in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Pacific Premier Bancorp Price Performance

Pacific Premier Bancorp stock opened at $31.42 on Wednesday. Pacific Premier Bancorp, Inc. has a 1 year low of $27.92 and a 1 year high of $44.49. The company’s 50 day simple moving average is $33.70 and its 200-day simple moving average is $33.30. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 10.17 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.86 and a current ratio of 0.86.

Pacific Premier Bancorp (NASDAQ:PPBIGet Rating) last announced its earnings results on Thursday, October 20th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.01. Pacific Premier Bancorp had a net margin of 35.82% and a return on equity of 10.57%. The firm had revenue of $201.30 million for the quarter, compared to the consensus estimate of $203.47 million. During the same period in the prior year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that Pacific Premier Bancorp, Inc. will post 2.99 earnings per share for the current year.

About Pacific Premier Bancorp

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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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

See Also

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

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