Principal Financial Group Inc. Sells 21,122 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Principal Financial Group Inc. lowered its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 454,497 shares of the financial services provider’s stock after selling 21,122 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Pacific Premier Bancorp worth $11,435,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PPBI. Natixis Advisors LLC raised its position in Pacific Premier Bancorp by 1.0% during the third quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider’s stock valued at $1,124,000 after purchasing an additional 449 shares in the last quarter. Arizona State Retirement System increased its position in shares of Pacific Premier Bancorp by 1.8% during the 2nd quarter. Arizona State Retirement System now owns 26,838 shares of the financial services provider’s stock valued at $616,000 after purchasing an additional 482 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Pacific Premier Bancorp by 0.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 75,842 shares of the financial services provider’s stock valued at $1,742,000 after buying an additional 631 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Pacific Premier Bancorp by 121.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider’s stock valued at $30,000 after buying an additional 649 shares in the last quarter. Finally, FMR LLC lifted its position in Pacific Premier Bancorp by 11.9% in the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider’s stock worth $171,000 after buying an additional 723 shares during the last quarter. 93.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wedbush decreased their price target on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.50.

Pacific Premier Bancorp Trading Down 2.3 %

Shares of NASDAQ PPBI opened at $24.73 on Monday. The firm’s 50 day moving average price is $26.90 and its 200-day moving average price is $25.35. Pacific Premier Bancorp, Inc. has a 52-week low of $20.52 and a 52-week high of $30.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $2.38 billion, a PE ratio of -164.86 and a beta of 1.24.

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

Pacific Premier Bancorp Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, November 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.34%. Pacific Premier Bancorp’s dividend payout ratio is currently -880.00%.

Insider Activity

In related news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. The trade was a 26.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

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.