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

Principal Financial Group Inc. grew its holdings in Pacific Premier Bancorp Inc (NASDAQ:PPBI - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 480,207 shares of the financial services provider's stock after purchasing an additional 12,542 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Pacific Premier Bancorp worth $10,238,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of 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 valued at $49,000 after purchasing an additional 741 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Pacific Premier Bancorp by 729.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,019 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 2,655 shares during the last quarter. KBC Group NV grew its position in shares of Pacific Premier Bancorp by 11.0% in the first quarter. KBC Group NV now owns 5,501 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 546 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Pacific Premier Bancorp by 171.7% in the fourth quarter. Point72 Asset Management L.P. now owns 6,520 shares of the financial services provider's stock valued at $162,000 after purchasing an additional 4,120 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in shares of Pacific Premier Bancorp in the fourth quarter valued at about $200,000. 93.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. DA Davidson downgraded Pacific Premier Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 24th. Wall Street Zen began coverage on shares of Pacific Premier Bancorp in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $27.25.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ PPBI traded up $0.46 during mid-day trading on Thursday, hitting $22.11. The company had a trading volume of 1,356,121 shares, compared to its average volume of 714,943. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85. The business's 50-day simple moving average is $21.62 and its 200-day simple moving average is $22.31. Pacific Premier Bancorp Inc has a 12 month low of $18.06 and a 12 month high of $30.28. The firm has a market cap of $2.15 billion, a P/E ratio of 14.55 and a beta of 1.16.

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

Pacific Premier Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, May 5th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date of this dividend was Monday, May 5th. Pacific Premier Bancorp's dividend payout ratio is 86.84%.

Insider Buying and Selling

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