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

Principal Financial Group Inc. lowered its holdings in shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI - Free Report) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. 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. owned about 0.47% of Pacific Premier Bancorp worth $11,435,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Algert Global LLC increased its holdings in shares of Pacific Premier Bancorp by 22.0% in the third quarter. Algert Global LLC now owns 234,616 shares of the financial services provider's stock worth $5,903,000 after buying an additional 42,357 shares during the period. Dimensional Fund Advisors LP increased its stake in Pacific Premier Bancorp by 4.4% in the 2nd 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 period. Renaissance Technologies LLC lifted its position in Pacific Premier Bancorp by 53.3% in the second quarter. Renaissance Technologies LLC now owns 222,628 shares of the financial services provider's stock valued at $5,114,000 after purchasing an additional 77,400 shares during the last quarter. Azora Capital LP bought a new position in shares of Pacific Premier Bancorp in the third quarter worth approximately $12,187,000. Finally, Barclays PLC increased its stake in shares of Pacific Premier Bancorp by 71.4% in the third quarter. Barclays PLC now owns 203,652 shares of the financial services provider's stock worth $5,123,000 after buying an additional 84,859 shares during the period. Hedge funds and other institutional investors own 93.11% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wedbush reduced their price objective on shares of 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 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. According to MarketBeat.com, Pacific Premier Bancorp currently has a consensus rating of "Hold" and a consensus price target of $26.50.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock remained flat at $24.73 during mid-day trading on Monday. 343,499 shares of the stock were exchanged, compared to its average volume of 542,298. The firm's 50 day simple moving average is $26.90 and its 200-day simple moving average is $25.38. The firm has a market cap of $2.38 billion, a P/E ratio of -164.86 and a beta of 1.24. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. Pacific Premier Bancorp, Inc. has a 1 year low of $20.52 and a 1 year high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same period in the prior year, the business posted $0.48 earnings per share. Equities analysts predict that Pacific Premier Bancorp, Inc. will post 1.6 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 12th. Stockholders of record on Monday, November 4th were given a $0.33 dividend. 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 Buying and Selling

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were 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 in the company, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction dated 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 of the company's stock, valued at $712,281. This trade represents a 26.69 % 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 company insiders.

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.