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Edward Earl Wilcox, President and Chief Operating Officer of Pacific Premier Bancorp Inc. (NASDAQ:PPBI), recently sold 14,500 shares of the company’s common stock. The shares were sold at an average price of $20.28, totaling approximately $294,060. Following this transaction, Wilcox holds 140,283 shares directly. Additionally, 125,430 shares are held indirectly by The Wilcox Family Trust, where Edward and Kristen Wilcox serve as trustees. The trust benefits the reporting person’s children. The stock, currently trading at $21.41, has seen significant price movements recently, with InvestingPro data showing the shares trading between $18.06 and $30.28 over the past 52 weeks.
The sale was part of a planned trading strategy, as indicated by the filing. This transaction does not affect the 74,451 shares of restricted stock Wilcox holds, which are subject to a vesting schedule and potential forfeiture under specific conditions. With a market capitalization of $2.08 billion and an attractive dividend yield of 6.17%, InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US equities.
In other recent news, Columbia Banking System (NASDAQ:COLB) reported impressive financial results for the first quarter of 2025, surpassing analysts’ expectations with an earnings per share (EPS) of $0.41, compared to the forecasted $0.30. The company also reported revenue of $144.8 million, slightly above the expected $143.2 million. Meanwhile, Pacific Premier Bancorp is set to be acquired by Columbia Banking System, a move that is anticipated to significantly enhance market presence, particularly in Southern California. The merger is expected to create a highly profitable entity with a strong return on average assets and tangible common equity. Raymond (NSE:RYMD) James maintained an Outperform rating on Pacific Premier Bancorp but lowered the price target from $28.00 to $25.00 following the merger announcement. The firm views the deal as beneficial for Pacific Premier shareholders, offering immediate value and increased market share potential. Analysts at Raymond James also noted the low-risk nature of Pacific Premier’s balance sheet, which is expected to provide financial flexibility and credit reassurance. Columbia’s strategic acquisition aligns with its focus on expanding its retail presence and enhancing its relationship banking model.
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