Bank of New York Mellon Corp Has $18.47 Million Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Bank of New York Mellon Corp lessened its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 723,649 shares of the financial services provider’s stock after selling 23,208 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.16% of Pacific Premier Bancorp worth $18,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rhumbline Advisers increased its stake in Pacific Premier Bancorp by 6.4% in the third quarter. Rhumbline Advisers now owns 107,926 shares of the financial services provider’s stock valued at $4,015,000 after purchasing an additional 6,505 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Pacific Premier Bancorp by 14.2% in the third quarter. Thrivent Financial for Lutherans now owns 30,623 shares of the financial services provider’s stock valued at $1,139,000 after acquiring an additional 3,811 shares during the period. Credit Suisse AG boosted its holdings in shares of Pacific Premier Bancorp by 10.7% in the third quarter. Credit Suisse AG now owns 81,015 shares of the financial services provider’s stock valued at $3,013,000 after acquiring an additional 7,862 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Pacific Premier Bancorp by 6.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,371,275 shares of the financial services provider’s stock valued at $34,995,000 after acquiring an additional 78,821 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. boosted its holdings in shares of Pacific Premier Bancorp by 3.8% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 161,428 shares of the financial services provider’s stock valued at $4,120,000 after acquiring an additional 5,882 shares during the period. 82.01% of the stock is currently owned by institutional investors.

NASDAQ:PPBI traded down $0.75 during trading hours on Monday, hitting $28.91. The company’s stock had a trading volume of 281,177 shares, compared to its average volume of 411,475. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.37 and a beta of 1.26. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.04 and a current ratio of 1.04. Pacific Premier Bancorp, Inc. has a 52-week low of $23.01 and a 52-week high of $43.20.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Tuesday, January 29th. The financial services provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. Pacific Premier Bancorp had a return on equity of 8.59% and a net margin of 25.76%. The business had revenue of $122.26 million during the quarter, compared to analysts’ expectations of $121.76 million. During the same quarter last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, analysts predict that Pacific Premier Bancorp, Inc. will post 2.64 EPS for the current year.

In related news, Chairman Steven R. Gardner sold 43,535 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $29.92, for a total transaction of $1,302,567.20. Following the completion of the sale, the chairman now owns 234,880 shares in the company, valued at approximately $7,027,609.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.12% of the company’s stock.

Several research firms have recently weighed in on PPBI. Zacks Investment Research downgraded Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub downgraded Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 26th. ValuEngine raised Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. TheStreet downgraded Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Friday, December 21st. Finally, FIG Partners reaffirmed an “outperform” rating on shares of Pacific Premier Bancorp in a report on Tuesday, January 29th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Pacific Premier Bancorp currently has a consensus rating of “Hold” and an average price target of $41.50.

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

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

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