Principal Financial Group Inc. Sells 22,136 Shares of Pacific Premier Bancorp, Inc. (NASDAQ:PPBI)

Principal Financial Group Inc. reduced its position in Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) by 4.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 475,619 shares of the financial services provider’s stock after selling 22,136 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Pacific Premier Bancorp worth $10,925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in shares of Pacific Premier Bancorp during the first quarter valued at about $27,000. Innealta Capital LLC purchased a new position in Pacific Premier Bancorp during the 2nd quarter valued at about $95,000. FineMark National Bank & Trust bought a new stake in Pacific Premier Bancorp during the fourth quarter worth about $234,000. Capstone Investment Advisors LLC purchased a new stake in Pacific Premier Bancorp in the first quarter worth about $217,000. Finally, MQS Management LLC bought a new position in shares of Pacific Premier Bancorp during the first quarter valued at approximately $235,000. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wedbush boosted their price target on Pacific Premier Bancorp from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a report on Friday, May 17th. Stephens raised their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Finally, Raymond James upped their price target on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from 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

NASDAQ PPBI opened at $23.86 on Friday. The company has a 50-day moving average price of $25.05 and a 200-day moving average price of $23.39. Pacific Premier Bancorp, Inc. has a 52 week low of $17.86 and a 52 week high of $30.13. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.30 billion, a P/E ratio of 183.54 and a beta of 1.24.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $154.62 million for the quarter, compared to the consensus estimate of $162.23 million. During the same quarter last year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was down 9.5% compared to the same quarter last year. Equities research analysts anticipate that Pacific Premier Bancorp, Inc. will post 1.65 earnings per share for the current year.

Pacific Premier Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, August 5th were paid a $0.33 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.32 annualized dividend and a dividend yield of 5.53%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.38%.

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.