Teacher Retirement System of Texas Buys New Position in Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Teacher Retirement System of Texas acquired a new stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,099 shares of the financial services provider's stock, valued at approximately $301,000.

Several other hedge funds have also modified their holdings of PPBI. Jacobs Asset Management LLC increased its holdings in shares of Pacific Premier Bancorp by 0.5% in the fourth quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider's stock worth $2,097,000 after purchasing an additional 400 shares during the period. KBC Group NV boosted its holdings in Pacific Premier Bancorp by 11.0% in the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after purchasing an additional 546 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Pacific Premier Bancorp by 4.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider's stock worth $379,000 after acquiring an additional 591 shares during the last quarter. Summit Investment Advisors Inc. raised its position in shares of Pacific Premier Bancorp by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,025 shares of the financial services provider's stock valued at $250,000 after purchasing an additional 643 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of 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 worth $49,000 after buying an additional 741 shares during the last quarter. 93.11% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Premier Bancorp Stock Performance

Pacific Premier Bancorp stock traded up $0.19 during mid-day trading on Tuesday, reaching $22.14. The company's stock had a trading volume of 1,190,657 shares, compared to its average volume of 721,141. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 14.57 and a beta of 1.16. The business has a 50 day moving average price of $21.63 and a 200-day moving average price of $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. Pacific Premier Bancorp Inc has a twelve month low of $18.06 and a twelve month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.30 by $0.07. The firm had revenue of $144.83 million for the quarter, compared to analysts' expectations of $143.25 million. Pacific Premier Bancorp had a net margin of 16.89% and a return on equity of 5.01%. During the same period in the previous year, the business earned $0.49 earnings per share. Sell-side analysts predict that Pacific Premier Bancorp Inc will post 1.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on PPBI. Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating for the company. DA Davidson downgraded shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $27.25.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, COO Edward Earl Wilcox sold 14,500 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $20.28, for a total transaction of $294,060.00. Following the completion of the sale, the chief operating officer owned 140,283 shares of the company's stock, valued at $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.29% of the company's stock.

Pacific Premier Bancorp Company 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.