Metropolitan Life Insurance Co. NY Grows Position in Pacific Premier Bancorp, Inc. (PPBI)

Metropolitan Life Insurance Co. NY increased its position in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,844 shares of the financial services provider’s stock after purchasing an additional 1,962 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Pacific Premier Bancorp were worth $566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PPBI. Rhumbline Advisers increased its stake in Pacific Premier Bancorp by 11.5% during the 2nd quarter. Rhumbline Advisers now owns 101,421 shares of the financial services provider’s stock worth $3,869,000 after acquiring an additional 10,476 shares during the period. Prudential Financial Inc. increased its stake in Pacific Premier Bancorp by 2.8% during the 1st quarter. Prudential Financial Inc. now owns 66,356 shares of the financial services provider’s stock worth $2,668,000 after acquiring an additional 1,810 shares during the period. Jackson Financial Management bought a new position in Pacific Premier Bancorp during the 2nd quarter worth $381,000. Employees Retirement System of Texas increased its stake in Pacific Premier Bancorp by 16.1% during the 1st quarter. Employees Retirement System of Texas now owns 72,000 shares of the financial services provider’s stock worth $2,894,000 after acquiring an additional 10,000 shares during the period. Finally, Laurion Capital Management LP bought a new position in Pacific Premier Bancorp during the 2nd quarter worth $598,000. 74.55% of the stock is owned by institutional investors and hedge funds.

In other news, Director Simone Lagomarsino sold 7,828 shares of Pacific Premier Bancorp stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $38.58, for a total value of $302,004.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Don M. Griffith sold 19,245 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 10th. The shares were sold at an average price of $40.02, for a total value of $770,184.90. The disclosure for this sale can be found here. Company insiders own 4.12% of the company’s stock.

Shares of PPBI opened at $37.35 on Thursday. Pacific Premier Bancorp, Inc. has a 52-week low of $35.55 and a 52-week high of $46.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.00 and a current ratio of 1.01. The firm has a market capitalization of $2.36 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.86 and a beta of 0.72.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Tuesday, July 24th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.02). Pacific Premier Bancorp had a net margin of 24.60% and a return on equity of 8.61%. The business had revenue of $89.32 million during the quarter, compared to the consensus estimate of $92.28 million. During the same quarter in the previous year, the business posted $0.35 EPS. equities research analysts expect that Pacific Premier Bancorp, Inc. will post 2.55 earnings per share for the current year.

A number of equities analysts have commented on the company. BidaskClub lowered Pacific Premier Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 22nd. ValuEngine upgraded Pacific Premier Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Stephens restated a “hold” rating and set a $43.00 price objective on shares of Pacific Premier Bancorp in a research note on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Pacific Premier Bancorp has a consensus rating of “Hold” and a consensus price target of $48.00.

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. Its deposit products include checking, money market, and savings accounts. The company's loan portfolio comprises commercial business loans, lines of credit, small business administration loans, commercial real estate loans, agribusiness loans, home equity lines of credit, construction loans, farmland, and consumer loans, as well as multi-family residential, one-to-four family real estate, commercial and industrial, and franchise lending; warehouse repurchase facilities; and credit facilities to Home Owners' Associations (HOA) and HOA management companies.

Further Reading: Fundamental Analysis and Individual Investors

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

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