Today, Joseph L. Garrett Buys 600 Shares of Pacific Premier Bancorp Inc. (PPBI) Stock

Today, Joseph L. Garrett Buys 600 Shares of Pacific Premier Bancorp Inc. (PPBI) Stock

Pacific Premier Bancorp Inc. (NASDAQ:PPBI) Director Joseph L. Garrett purchased 600 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was bought at an average price of $31.40 per share, for a total transaction of $18,840.00. Following the transaction, the director now directly owns 65,250 shares in the company, valued at $2,048,850. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Pacific Premier Bancorp Inc. (NASDAQ:PPBI) traded up 1.70% during trading on Friday, reaching $32.90. The company’s stock had a trading volume of 47,719 shares. Pacific Premier Bancorp Inc. has a 52 week low of $18.32 and a 52 week high of $32.95. The stock has a market capitalization of $909.88 million, a price-to-earnings ratio of 23.60 and a beta of 0.66. The firm has a 50 day moving average of $27.63 and a 200 day moving average of $25.83.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.42 by $0.09. Pacific Premier Bancorp had a return on equity of 9.67% and a net margin of 21.03%. The company had revenue of $45 million for the quarter, compared to the consensus estimate of $43.46 million. The firm’s revenue for the quarter was up 44.7% compared to the same quarter last year. Analysts expect that Pacific Premier Bancorp Inc. will post $1.45 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust boosted its position in shares of Pacific Premier Bancorp by 8.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 674,342 shares of the financial services provider’s stock valued at $16,184,000 after buying an additional 51,086 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Pacific Premier Bancorp by 1.3% in the second quarter. First Trust Advisors LP now owns 38,243 shares of the financial services provider’s stock valued at $918,000 after buying an additional 509 shares during the last quarter. Context BH Capital Management LP boosted its position in shares of Pacific Premier Bancorp by 54.5% in the second quarter. Context BH Capital Management LP now owns 290,272 shares of the financial services provider’s stock valued at $6,967,000 after buying an additional 102,390 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of Pacific Premier Bancorp during the second quarter valued at approximately $234,000. Finally, GSA Capital Partners LLP boosted its position in shares of Pacific Premier Bancorp by 12.2% in the second quarter. GSA Capital Partners LLP now owns 57,520 shares of the financial services provider’s stock valued at $1,380,000 after buying an additional 6,267 shares during the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. FBR & Co cut Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating and set a $29.00 price target on the stock. in a research report on Tuesday, October 11th. Zacks Investment Research cut Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, October 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $24.33.

About Pacific Premier Bancorp

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