Credit Suisse AG Has $2.39 Million Stock Holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Credit Suisse AG boosted its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 36.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,331 shares of the financial services provider’s stock after purchasing an additional 19,453 shares during the period. Credit Suisse AG’s holdings in Pacific Premier Bancorp were worth $2,391,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its position in Pacific Premier Bancorp by 12.2% during the third quarter. Barclays PLC now owns 70,060 shares of the financial services provider’s stock valued at $2,185,000 after purchasing an additional 7,626 shares during the last quarter. State Street Corp boosted its position in Pacific Premier Bancorp by 2.6% during the third quarter. State Street Corp now owns 2,003,111 shares of the financial services provider’s stock valued at $62,477,000 after purchasing an additional 50,783 shares during the last quarter. Man Group plc acquired a new position in Pacific Premier Bancorp during the third quarter valued at approximately $770,000. Evoke Wealth LLC acquired a new position in Pacific Premier Bancorp during the third quarter valued at approximately $321,000. Finally, Metropolitan Life Insurance Co NY boosted its position in Pacific Premier Bancorp by 34.5% during the third quarter. Metropolitan Life Insurance Co NY now owns 19,969 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 5,125 shares during the last quarter. 86.58% of the stock is owned by hedge funds and other institutional investors.

PPBI has been the subject of several recent research reports. Zacks Investment Research cut Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Stephens raised Pacific Premier Bancorp from an “equal weight” rating to an “overweight” rating and set a $25.00 price target for the company in a research report on Wednesday. TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Friday, February 28th. DA Davidson reaffirmed a “buy” rating on shares of Pacific Premier Bancorp in a research report on Monday, January 27th. Finally, BidaskClub cut Pacific Premier Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.00.

PPBI opened at $17.08 on Thursday. Pacific Premier Bancorp, Inc. has a 12-month low of $13.93 and a 12-month high of $34.90. The stock has a market cap of $984.81 million, a price-to-earnings ratio of 6.52 and a beta of 1.23. The business has a 50 day moving average of $24.85 and a 200-day moving average of $30.29. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.36.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.08. Pacific Premier Bancorp had a return on equity of 7.99% and a net margin of 28.45%. The company had revenue of $122.72 million during the quarter, compared to analysts’ expectations of $116.50 million. During the same period last year, the firm posted $0.63 earnings per share. As a group, analysts expect that Pacific Premier Bancorp, Inc. will post 2.21 earnings per share for the current year.

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. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.

Further Reading: Cash Asset Ratio

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

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