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

Principal Financial Group Inc. lessened its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The fund 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 institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Pacific Premier Bancorp by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 5,644,235 shares of the financial services provider’s stock worth $129,645,000 after purchasing an additional 238,854 shares during the last quarter. American Century Companies Inc. boosted 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 buying an additional 242,721 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Pacific Premier Bancorp by 13.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,768,341 shares of the financial services provider’s stock worth $69,651,000 after acquiring an additional 321,716 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Pacific Premier Bancorp by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,303,222 shares of the financial services provider’s stock worth $57,960,000 after acquiring an additional 25,964 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Pacific Premier Bancorp by 8.5% during the second quarter. Victory Capital Management Inc. now owns 1,566,343 shares of the financial services provider’s stock worth $35,979,000 after acquiring an additional 122,285 shares during the period. Institutional investors own 93.11% of the company’s stock.

Pacific Premier Bancorp Trading Down 2.3 %

Shares of PPBI stock opened at $24.73 on Monday. The stock has a 50 day simple moving average of $26.90 and a 200-day simple moving average of $25.35. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The company has a market cap of $2.38 billion, a price-to-earnings ratio of -164.86 and a beta of 1.24. 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 the consensus estimate of $0.38 by ($0.01). The business had revenue of $224.49 million during the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the business posted $0.48 EPS. On average, equities research analysts expect that Pacific Premier Bancorp, Inc. will post 1.6 EPS for the current fiscal year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were given 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 yield of 5.34%. Pacific Premier Bancorp’s payout ratio is -880.00%.

Insiders Place Their Bets

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp 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 completion of the sale, the executive vice president now directly owns 25,475 shares of the company’s stock, valued at approximately $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael S. Karr sold 10,290 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $26.87, for a total transaction of $276,492.30. Following the sale, the executive vice president now owns 79,474 shares in the company, valued at $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. 2.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Wedbush dropped their price target 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pacific Premier Bancorp has a consensus rating of “Hold” and an average 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.