North Star Investment Management Corp. Takes Position in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

North Star Investment Management Corp. purchased a new stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,617 shares of the financial services provider’s stock, valued at approximately $133,000.

A number of other large investors also recently modified their holdings of PPBI. State Street Corp increased its stake in shares of Pacific Premier Bancorp by 12.0% in the fourth quarter. State Street Corp now owns 588,866 shares of the financial services provider’s stock valued at $20,814,000 after buying an additional 62,973 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Pacific Premier Bancorp by 8.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 929,402 shares of the financial services provider’s stock valued at $32,854,000 after buying an additional 74,173 shares during the period. Renaissance Technologies LLC increased its stake in shares of Pacific Premier Bancorp by 49.7% in the fourth quarter. Renaissance Technologies LLC now owns 149,800 shares of the financial services provider’s stock valued at $5,295,000 after buying an additional 49,700 shares during the period. Teachers Advisors LLC increased its stake in shares of Pacific Premier Bancorp by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 44,679 shares of the financial services provider’s stock valued at $1,579,000 after buying an additional 1,618 shares during the period. Finally, Navellier & Associates Inc increased its stake in shares of Pacific Premier Bancorp by 0.7% in the first quarter. Navellier & Associates Inc now owns 34,653 shares of the financial services provider’s stock valued at $1,336,000 after buying an additional 228 shares during the period. Institutional investors own 62.69% of the company’s stock.

Pacific Premier Bancorp Inc (NASDAQ:PPBI) traded down 1.24% on Wednesday, hitting $35.70. The stock had a trading volume of 37,991 shares. The company’s 50-day moving average is $36.56 and its 200-day moving average is $37.22. The stock has a market cap of $1.43 billion, a P/E ratio of 24.76 and a beta of 0.72. Pacific Premier Bancorp Inc has a one year low of $24.00 and a one year high of $41.90.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.12. Pacific Premier Bancorp had a return on equity of 11.98% and a net margin of 19.85%. The business had revenue of $72.10 million for the quarter, compared to analysts’ expectations of $68.18 million. During the same period in the previous year, the firm posted $0.38 earnings per share. On average, analysts anticipate that Pacific Premier Bancorp Inc will post $1.68 earnings per share for the current fiscal year.

PPBI has been the topic of several recent research reports. Piper Jaffray Companies restated an “overweight” rating and set a $41.00 price target (down previously from $43.00) on shares of Pacific Premier Bancorp in a report on Monday, April 17th. Zacks Investment Research downgraded Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. FBR & Co upgraded Pacific Premier Bancorp from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $44.00 in a report on Monday, May 1st. BidaskClub upgraded Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $42.00 price target on shares of Pacific Premier Bancorp in a report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $41.75.

In other news, Director Simone Lagomarsino sold 6,250 shares of Pacific Premier Bancorp stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $37.00, for a total transaction of $231,250.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 18,750 shares of company stock worth $684,688. Corporate insiders own 4.59% of the company’s stock.

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 Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.