The Putnam Investments LLC Sells 10,100 Shares of Pacific Premier Bancorp, Inc. (PPBI)

The Putnam Investments LLC Sells 10,100 Shares of Pacific Premier Bancorp, Inc. (PPBI)

Putnam Investments LLC decreased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 5.4% during the fourth quarter, Holdings Channel reports. The firm owned 175,584 shares of the financial services provider’s stock after selling 10,100 shares during the period. Putnam Investments LLC owned approximately 0.63% of Pacific Premier Bancorp worth $6,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE raised its stake in Pacific Premier Bancorp by 7.8% in the third quarter. US Bancorp DE now owns 5,749 shares of the financial services provider’s stock worth $153,000 after buying an additional 418 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in Pacific Premier Bancorp during the third quarter worth about $212,000. National Planning Corp purchased a new stake in Pacific Premier Bancorp during the fourth quarter worth about $223,000. Trexquant Investment LP purchased a new stake in Pacific Premier Bancorp during the fourth quarter worth about $245,000. Finally, Harbor Advisors LLC purchased a new stake in Pacific Premier Bancorp during the fourth quarter worth about $392,000. 76.79% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) traded down 1.86% during mid-day trading on Monday, hitting $39.50. 32,865 shares of the stock were exchanged. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 27.05 and a beta of 0.69. The company has a 50 day moving average price of $39.22 and a 200 day moving average price of $31.86. Pacific Premier Bancorp, Inc. has a 52 week low of $20.05 and a 52 week high of $41.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its earnings results on Tuesday, January 24th. The financial services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $46.60 million for the quarter, compared to the consensus estimate of $40.53 million. Pacific Premier Bancorp had a return on equity of 9.78% and a net margin of 21.54%. The firm’s quarterly revenue was up 41.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Analysts expect that Pacific Premier Bancorp, Inc. will post $1.93 EPS for the current fiscal year.

A number of analysts have recently issued reports on the stock. FBR & Co lifted their price objective on shares of Pacific Premier Bancorp from $38.00 to $40.00 and gave the company a “mkt perform” rating in a research note on Tuesday, January 24th. Stephens assumed coverage on shares of Pacific Premier Bancorp in a research note on Thursday, December 22nd. They set an “overweight” rating on the stock. Zacks Investment Research upgraded shares of Pacific Premier Bancorp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, December 21st. Finally, FIG Partners upgraded shares of Pacific Premier Bancorp from a “market-perform” rating to an “outperform” rating in a research note on Friday, January 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.50.

In other news, Director Michael L. Mckennon sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $34.05, for a total value of $102,150.00. Following the transaction, the director now owns 38,000 shares in the company, valued at approximately $1,293,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven R. Gardner sold 12,276 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $34.05, for a total value of $417,997.80. Following the completion of the transaction, the chief executive officer now owns 254,646 shares in the company, valued at approximately $8,670,696.30. The disclosure for this sale can be found here. Insiders sold a total of 55,467 shares of company stock worth $2,049,651 in the last quarter. 4.87% of the stock is owned by corporate insiders.

Pacific Premier Bancorp Company 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 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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