Pacific Premier Bancorp Inc (NASDAQ:PPBI) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 70.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,408 shares of the financial services provider's stock after selling 21,988 shares during the period. M&T Bank Corp's holdings in Pacific Premier Bancorp were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PPBI. GAMMA Investing LLC grew its holdings in Pacific Premier Bancorp by 47.9% in the 1st quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock valued at $49,000 after buying an additional 741 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Pacific Premier Bancorp by 729.4% in the 4th quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after buying an additional 2,655 shares in the last quarter. KBC Group NV grew its holdings in Pacific Premier Bancorp by 11.0% in the 1st quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after buying an additional 546 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Pacific Premier Bancorp by 171.7% in the 4th quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock valued at $162,000 after buying an additional 4,120 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in Pacific Premier Bancorp in the 4th quarter valued at $200,000. Institutional investors own 93.11% of the company's stock.

Insider Transactions at Pacific Premier Bancorp

In other news, COO Edward Earl Wilcox sold 14,500 shares of Pacific Premier Bancorp stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $20.28, for a total value of $294,060.00. Following the sale, the chief operating officer directly owned 140,283 shares of the company's stock, valued at approximately $2,844,939.24. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Stock Up 0.9%

Shares of PPBI stock traded up $0.19 during midday trading on Tuesday, reaching $22.14. 1,190,657 shares of the stock were exchanged, compared to its average volume of 721,141. Pacific Premier Bancorp Inc has a 1 year low of $18.06 and a 1 year high of $30.28. The company's 50 day moving average is $21.63 and its two-hundred day moving average is $22.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.15 billion, a PE ratio of 14.57 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. The business had revenue of $144.83 million for the quarter, compared to the consensus estimate of $143.25 million. During the same period last year, the business posted $0.49 EPS. On average, equities research analysts predict that Pacific Premier Bancorp Inc will post 1.34 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on PPBI. Wall Street Zen began coverage on Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating for the company. DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Pacific Premier Bancorp has a consensus rating of "Hold" and a consensus price target of $27.25.

Pacific Premier Bancorp Profile

Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides various banking products and services in the United States. The company accepts deposit products, which includes checking, money market, savings accounts, and certificates of deposit. Its loan portfolio includes commercial real estate owner and non-owner-occupied, multifamily, construction and land, franchise real estate secured, and small business administration (SBA); revolving lines of credit, term loans, seasonal loans, and loans secured by liquid collateral; one-to-four family and home equity lines of credit loans; and small balance personal unsecured loans and savings account secured loans.