Victory Capital Management Inc. Buys 37,267 Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Victory Capital Management Inc. raised its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,464,112 shares of the financial services provider's stock after buying an additional 37,267 shares during the quarter. Victory Capital Management Inc. owned about 1.51% of Pacific Premier Bancorp worth $31,215,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PPBI. Principal Financial Group Inc. raised its position in shares of Pacific Premier Bancorp by 2.7% in the first quarter. Principal Financial Group Inc. now owns 480,207 shares of the financial services provider's stock valued at $10,238,000 after buying an additional 12,542 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Pacific Premier Bancorp during the 1st quarter worth $352,000. GAMMA Investing LLC grew its position 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 acquiring an additional 741 shares in the last quarter. KBC Group NV grew its holdings in shares of Pacific Premier Bancorp by 11.0% during the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 546 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Pacific Premier Bancorp in the 1st quarter worth about $501,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total transaction of $294,060.00. Following the sale, the chief operating officer owned 140,283 shares of the company's stock, valued at approximately $2,844,939.24. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.29% of the company's stock.

Analysts Set New Price Targets

PPBI has been the subject of a number of research analyst reports. Wall Street Zen started coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They issued 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 report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Pacific Premier Bancorp presently has a consensus rating of "Hold" and an average price target of $27.25.

Pacific Premier Bancorp Trading Up 0.9%

PPBI traded up $0.19 during trading on Tuesday, reaching $22.14. 1,190,657 shares of the company's stock were exchanged, compared to its average volume of 720,433. The company's fifty day moving average price is $21.63 and its 200-day moving average price is $22.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $2.15 billion, a PE ratio of 14.57 and a beta of 1.16. Pacific Premier Bancorp Inc has a fifty-two week low of $18.06 and a fifty-two week high of $30.28.

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

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.