Principal Financial Group Inc. Has $11.65 Million Position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Principal Financial Group Inc. grew its stake in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 467,665 shares of the financial services provider's stock after buying an additional 13,168 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of Pacific Premier Bancorp worth $11,654,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PPBI. Natixis Advisors LLC raised its holdings in shares of Pacific Premier Bancorp by 1.0% in the 3rd quarter. Natixis Advisors LLC now owns 44,685 shares of the financial services provider's stock worth $1,124,000 after buying an additional 449 shares in the last quarter. FMR LLC boosted its stake in shares of Pacific Premier Bancorp by 11.9% in the 3rd quarter. FMR LLC now owns 6,782 shares of the financial services provider's stock valued at $171,000 after purchasing an additional 723 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of Pacific Premier Bancorp by 4.4% in the 3rd quarter. HighTower Advisors LLC now owns 18,599 shares of the financial services provider's stock valued at $468,000 after purchasing an additional 789 shares in the last quarter. KBC Group NV grew its holdings in shares of Pacific Premier Bancorp by 30.0% in the 3rd quarter. KBC Group NV now owns 3,679 shares of the financial services provider's stock worth $93,000 after purchasing an additional 849 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. increased its position in shares of Pacific Premier Bancorp by 2.1% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 55,741 shares of the financial services provider's stock worth $1,402,000 after purchasing an additional 1,150 shares in the last quarter. Institutional investors own 93.11% of the company's stock.

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Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded down $0.54 on Monday, hitting $23.35. 400,778 shares of the company were exchanged, compared to its average volume of 540,876. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.28. The firm has a 50 day moving average of $24.85 and a two-hundred day moving average of $25.63. 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 $2.25 billion, a P/E ratio of 14.24 and a beta of 1.26.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. On average, equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.34 EPS for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Monday, February 3rd were given a dividend of $0.33 per share. The ex-dividend date was Monday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.65%. Pacific Premier Bancorp's payout ratio is currently 80.49%.

Analyst Ratings Changes

Separately, DA Davidson decreased their price objective on shares of 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $27.00.

Insider Activity

In other Pacific Premier Bancorp news, 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 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. The trade was a 11.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.21% of the stock is currently owned by insiders.

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.