Principal Financial Group Inc. Decreases Stock Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Principal Financial Group Inc. lessened its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 454,497 shares of the financial services provider’s stock after selling 21,122 shares during the period. Principal Financial Group Inc.’s holdings in Pacific Premier Bancorp were worth $11,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPBI. Dimensional Fund Advisors LP grew its position in Pacific Premier Bancorp by 4.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock valued at $129,645,000 after acquiring an additional 238,854 shares during the last quarter. American Century Companies Inc. grew its position in Pacific Premier Bancorp by 6.1% in the 2nd quarter. American Century Companies Inc. now owns 4,253,161 shares of the financial services provider’s stock valued at $97,695,000 after acquiring an additional 242,721 shares during the last quarter. Victory Capital Management Inc. grew its position in Pacific Premier Bancorp by 8.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock valued at $35,979,000 after acquiring an additional 122,285 shares during the last quarter. Bank of New York Mellon Corp grew its position in Pacific Premier Bancorp by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,203,751 shares of the financial services provider’s stock valued at $27,650,000 after acquiring an additional 16,038 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Pacific Premier Bancorp by 61.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 644,443 shares of the financial services provider’s stock valued at $16,214,000 after acquiring an additional 245,771 shares during the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Stock Up 0.3 %

Pacific Premier Bancorp stock opened at $27.75 on Monday. The stock has a market capitalization of $2.68 billion, a PE ratio of -184.99 and a beta of 1.21. Pacific Premier Bancorp, Inc. has a 12 month low of $20.52 and a 12 month high of $30.13. The business has a 50 day simple moving average of $25.62 and a 200-day simple moving average of $24.39. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.88.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $224.49 million during the quarter, compared to analyst estimates of $153.23 million. During the same period in the previous year, the business earned $0.48 EPS. On average, analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Monday, November 4th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is currently -879.94%.

Insiders Place Their Bets

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total value of $259,273.08. Following the transaction, the executive vice president now owns 25,475 shares of the company’s stock, valued at $712,281. This represents a 26.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeff C. Jones sold 11,251 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.62, for a total value of $265,748.62. Following the transaction, the director now directly owns 123,794 shares in the company, valued at approximately $2,924,014.28. The trade was a 8.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,023 shares of company stock valued at $1,245,713. Insiders own 2.21% of the company’s stock.

Analyst Ratings Changes

PPBI has been the topic of several research analyst reports. Wedbush cut their price objective on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Raymond James increased their price target on Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Stephens increased their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.50.

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.