Today, State Board of Administration of Florida Retirement System Takes Position in Pacific Premier Bancorp Inc. (PPBI)

Today, State Board of Administration of Florida Retirement System Takes Position in Pacific Premier Bancorp Inc. (PPBI)

State Board of Administration of Florida Retirement System acquired a new position in Pacific Premier Bancorp Inc. (NASDAQ:PPBI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,764 shares of the financial services provider’s stock, valued at approximately $234,000.

Several other institutional investors have also bought and sold shares of PPBI. Emerald Mutual Fund Advisers Trust raised 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 in the last quarter. Emerald Advisers Inc. PA raised its position in shares of Pacific Premier Bancorp by 3.1% in the second quarter. Emerald Advisers Inc. PA now owns 488,586 shares of the financial services provider’s stock valued at $11,726,000 after buying an additional 14,572 shares in the last quarter. Swiss National Bank raised its position in shares of Pacific Premier Bancorp by 24.1% in the second quarter. Swiss National Bank now owns 34,374 shares of the financial services provider’s stock valued at $825,000 after buying an additional 6,674 shares in the last quarter. Granahan Investment Management Inc. MA raised its position in shares of Pacific Premier Bancorp by 23.2% in the first quarter. Granahan Investment Management Inc. MA now owns 363,900 shares of the financial services provider’s stock valued at $7,777,000 after buying an additional 68,600 shares in the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Pacific Premier Bancorp during the second quarter valued at about $3,574,000. Institutional investors and hedge funds own 71.78% of the company’s stock.

Pacific Premier Bancorp Inc. (NASDAQ:PPBI) traded up 0.38% during midday trading on Tuesday, hitting $26.55. The stock had a trading volume of 5,641 shares. The company’s 50 day moving average is $26.89 and its 200 day moving average is $24.74. Pacific Premier Bancorp Inc. has a 1-year low of $18.32 and a 1-year high of $28.35. The company has a market cap of $734.27 million, a price-to-earnings ratio of 18.66 and a beta of 0.62.

PPBI has been the topic of several research reports. FBR & Co initiated coverage on Pacific Premier Bancorp in a research note on Thursday, June 30th. They set an “outperform” rating and a $28.00 price target on the stock. FIG Partners lowered Pacific Premier Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $24.25.

About Pacific Premier Bancorp

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 Bank’s primary focus market is small and middle market businesses. The Bank offers various deposit products and services, including checking, money market and savings accounts, cash management services, electronic banking services and online bill payment.

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