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

Principal Financial Group Inc. lessened its holdings in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 4.4% during the third 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in Pacific Premier Bancorp by 121.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,183 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 649 shares during the last quarter. nVerses Capital LLC increased its holdings in shares of Pacific Premier Bancorp by 93.8% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the financial services provider's stock worth $71,000 after buying an additional 1,500 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Pacific Premier Bancorp in the 2nd quarter valued at $95,000. Point72 DIFC Ltd boosted its holdings in shares of Pacific Premier Bancorp by 202.9% during the 2nd quarter. Point72 DIFC Ltd now owns 7,966 shares of the financial services provider's stock valued at $183,000 after acquiring an additional 5,336 shares in the last quarter. Finally, CWC Advisors LLC. bought a new stake in Pacific Premier Bancorp during the 3rd quarter worth $235,000. Institutional investors own 93.11% of the company's stock.

Insider Activity

In other news, COO Edward Earl Wilcox sold 30,499 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $23.63, for a total value of $720,691.37. Following the completion of the sale, the chief operating officer now directly owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 11.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 25,475 shares in the company, valued at approximately $712,281. The trade was a 26.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,023 shares of company stock worth $1,245,713 in the last quarter. 2.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PPBI has been the topic of a number of recent research reports. Wedbush cut their price target on 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. Raymond James boosted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Stephens raised their price target on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $26.50.

Pacific Premier Bancorp Trading Down 0.5 %

PPBI stock traded down $0.13 during midday trading on Monday, hitting $27.62. The stock had a trading volume of 369,068 shares, compared to its average volume of 547,609. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The firm has a market cap of $2.66 billion, a P/E ratio of -184.25 and a beta of 1.21. The business has a fifty day moving average price of $25.62 and a two-hundred day moving average price of $24.39. Pacific Premier Bancorp, Inc. has a 1-year low of $20.52 and a 1-year high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (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 the consensus estimate of $153.23 million. During the same quarter last year, the company earned $0.48 earnings per share. On average, sell-side analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share 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. Stockholders of record on Monday, November 4th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.78%. The ex-dividend date was Monday, November 4th. Pacific Premier Bancorp's dividend payout ratio (DPR) is -879.94%.

About Pacific Premier Bancorp

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.