Renaissance Technologies LLC Purchases 43,610 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Renaissance Technologies LLC boosted its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 33.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,538 shares of the financial services provider's stock after purchasing an additional 43,610 shares during the period. Renaissance Technologies LLC owned 0.18% of Pacific Premier Bancorp worth $4,374,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in Pacific Premier Bancorp by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 9,658 shares of the financial services provider's stock valued at $241,000 after buying an additional 487 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Pacific Premier Bancorp by 4.2% during the fourth quarter. HighTower Advisors LLC now owns 19,371 shares of the financial services provider's stock worth $483,000 after purchasing an additional 772 shares during the period. LPL Financial LLC grew its stake in shares of Pacific Premier Bancorp by 5.5% in the fourth quarter. LPL Financial LLC now owns 22,850 shares of the financial services provider's stock worth $569,000 after purchasing an additional 1,194 shares during the last quarter. KBC Group NV raised its position in Pacific Premier Bancorp by 34.7% during the 4th quarter. KBC Group NV now owns 4,955 shares of the financial services provider's stock worth $123,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Pacific Premier Bancorp by 158.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,023 shares of the financial services provider's stock worth $75,000 after buying an additional 1,853 shares during the period. 93.11% of the stock is currently owned by institutional investors.

Pacific Premier Bancorp Trading Down 0.4 %

Shares of PPBI stock opened at $19.17 on Tuesday. The company has a market cap of $1.86 billion, a P/E ratio of 11.69 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. 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 stock has a 50 day simple moving average of $21.71 and a two-hundred day simple moving average of $24.57.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. Research analysts forecast that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

Separately, DA Davidson cut their price objective on Pacific Premier Bancorp from $33.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Pacific Premier Bancorp presently has an average rating of "Hold" and an average price target of $27.00.

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.

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