Principal Financial Group Inc. Buys 12,542 Shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI)

Principal Financial Group Inc. lifted its stake in shares of Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 480,207 shares of the financial services provider's stock after purchasing an additional 12,542 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of Pacific Premier Bancorp worth $10,238,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jacobs Asset Management LLC lifted its holdings in Pacific Premier Bancorp by 0.5% during the 4th quarter. Jacobs Asset Management LLC now owns 84,154 shares of the financial services provider's stock worth $2,097,000 after buying an additional 400 shares in the last quarter. KBC Group NV raised its position in shares of Pacific Premier Bancorp by 11.0% during the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock worth $117,000 after acquiring an additional 546 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Pacific Premier Bancorp by 4.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,196 shares of the financial services provider's stock valued at $379,000 after acquiring an additional 591 shares during the period. Summit Investment Advisors Inc. boosted its holdings in Pacific Premier Bancorp by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,025 shares of the financial services provider's stock valued at $250,000 after acquiring an additional 643 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Pacific Premier Bancorp by 47.9% in the first quarter. GAMMA Investing LLC now owns 2,288 shares of the financial services provider's stock worth $49,000 after purchasing an additional 741 shares during the period. 93.11% of the stock is owned by institutional investors.

Pacific Premier Bancorp Trading Down 1.0%

NASDAQ PPBI traded down $0.22 on Tuesday, reaching $22.34. The company had a trading volume of 67,226 shares, compared to its average volume of 706,533. Pacific Premier Bancorp Inc has a 52 week low of $18.06 and a 52 week high of $30.28. The stock's 50 day moving average is $21.54 and its 200-day moving average is $22.35. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 14.71 and a beta of 1.16.

Pacific Premier Bancorp (NASDAQ:PPBI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.07. Pacific Premier Bancorp had a return on equity of 5.01% and a net margin of 16.89%. The company had revenue of $144.83 million during the quarter, compared to analysts' expectations of $143.25 million. During the same period in the prior year, the business posted $0.49 EPS. Equities analysts predict that Pacific Premier Bancorp Inc will post 1.34 earnings per share for the current year.

Pacific Premier Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were issued a $0.33 dividend. The ex-dividend date was Monday, May 5th. This represents a $1.32 annualized dividend and a yield of 5.91%. Pacific Premier Bancorp's dividend payout ratio (DPR) is presently 86.84%.

Insider Buying and Selling at Pacific Premier Bancorp

In related news, COO Edward Earl Wilcox sold 14,500 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $20.28, for a total value of $294,060.00. Following the completion of the sale, the chief operating officer owned 140,283 shares in the company, valued at $2,844,939.24. This represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on PPBI. Wall Street Zen assumed coverage on shares of Pacific Premier Bancorp in a research report on Thursday, May 22nd. They set a "sell" rating on the stock. DA Davidson downgraded shares of Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.25.

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.