BlackRock Discloses 7,060,684 Shares of PPBI in Schedule 13G/A
Rhea-AI Filing Summary
BlackRock, Inc. filed an amended Schedule 13G reporting beneficial ownership of 7,060,684 shares of Pacific Premier Bancorp, Inc. common stock, representing 7.3% of the class. The filing shows BlackRock has sole voting power over 6,843,606 shares and sole dispositive power over 7,060,684 shares, with no shared voting or dispositive power reported.
The statement indicates the holdings are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The cover information names BlackRock, Inc. (Delaware) as the reporting person and lists 50 Hudson Yards, New York, as its principal business office.
Positive
- Institutional ownership disclosed: BlackRock beneficially owns 7,060,684 shares (7.3%), indicating material institutional interest in PPBI
- Clear voting/dispositive breakdown: 6,843,606 shares with sole voting power and 7,060,684 with sole dispositive power, providing transparency on authority over shares
Negative
- None.
Insights
TL;DR BlackRock reports a significant 7.3% passive holding in PPBI with sole voting and dispositive power for most shares.
The Schedule 13G/A discloses a material passive stake by a large asset manager: 7,060,684 shares, equal to 7.3% of Pacific Premier Bancorp's common stock. The filing classifies the position as held in the ordinary course of business and not intended to influence control, consistent with Rule 13d-1 filings for institutional investors. The breakdown—6,843,606 shares with sole voting power and 7,060,684 shares with sole dispositive power—clarifies BlackRock's unilateral ability to buy or sell these shares without shared authority.
TL;DR This disclosure is a routine institutional ownership report, signaling substantial investor interest but asserting no control intent.
The amendment reiterates BlackRock's status as a Delaware reporting person holding over 5% of PPBI. The certification that the holdings are not for the purpose of changing control and the absence of shared voting power imply a passive investment posture. Exhibits listed (Power of Attorney; Item 7) are standard attachments for parent/subsidiary identification and authority to sign.