Principal Financial Group Inc. Acquires 13,168 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Principal Financial Group Inc. lifted its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 2.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 467,665 shares of the financial services provider’s stock after acquiring an additional 13,168 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Pacific Premier Bancorp worth $11,654,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Pacific Premier Bancorp during the 3rd quarter worth approximately $60,000. KBC Group NV increased its stake in shares of Pacific Premier Bancorp by 30.0% in the third quarter. KBC Group NV now owns 3,679 shares of the financial services provider’s stock worth $93,000 after buying an additional 849 shares during the period. Golden State Wealth Management LLC bought a new stake in Pacific Premier Bancorp during the 4th quarter valued at $158,000. FMR LLC increased its position in shares of Pacific Premier Bancorp by 11.9% in the third quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 723 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Pacific Premier Bancorp during the third quarter worth about $297,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Insider Transactions at Pacific Premier Bancorp

In related news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the completion of the transaction, the executive vice president now owns 79,474 shares of the company’s stock, valued at $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.21% of the company’s stock.

Pacific Premier Bancorp Price Performance

PPBI opened at $23.56 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 14.37 and a beta of 1.26. The stock has a fifty day simple moving average of $24.87 and a two-hundred day simple moving average of $25.61. Pacific Premier Bancorp, Inc. has a 12-month low of $20.52 and a 12-month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping 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 predict that Pacific Premier Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $1.32 annualized dividend and a dividend yield of 5.60%. Pacific Premier Bancorp’s payout ratio is 80.49%.

Analysts Set New Price Targets

Separately, DA Davidson reduced their target price 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.