Principal Financial Group Inc. Decreases Position in Pacific Premier Bancorp Inc (PPBI)

Principal Financial Group Inc. reduced its stake in Pacific Premier Bancorp Inc (NASDAQ:PPBI) by 95.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,134 shares of the financial services provider’s stock after selling 421,030 shares during the period. Principal Financial Group Inc. owned about 0.05% of Pacific Premier Bancorp worth $760,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PPBI. Teachers Advisors LLC increased its stake in Pacific Premier Bancorp by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 46,168 shares of the financial services provider’s stock worth $1,780,000 after purchasing an additional 1,489 shares during the period. TD Asset Management Inc. purchased a new position in Pacific Premier Bancorp in the 2nd quarter worth approximately $601,000. Schwab Charles Investment Management Inc. increased its stake in Pacific Premier Bancorp by 30.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 160,356 shares of the financial services provider’s stock worth $5,918,000 after purchasing an additional 37,273 shares during the period. First Trust Advisors LP increased its stake in Pacific Premier Bancorp by 113.7% in the 2nd quarter. First Trust Advisors LP now owns 110,424 shares of the financial services provider’s stock worth $4,075,000 after purchasing an additional 58,741 shares during the period. Finally, First Mercantile Trust Co. purchased a new position in Pacific Premier Bancorp in the 2nd quarter worth approximately $113,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Pacific Premier Bancorp Inc (NASDAQ:PPBI) opened at $38.15 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.02 and a quick ratio of 1.01. Pacific Premier Bancorp Inc has a 12 month low of $32.05 and a 12 month high of $42.55. The company has a market capitalization of $1,740.17, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.81 and a beta of 0.82.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. Pacific Premier Bancorp had a return on equity of 9.21% and a net margin of 21.82%. The firm had revenue of $72.51 million for the quarter, compared to analysts’ expectations of $72.23 million. During the same period in the previous year, the firm earned $0.33 earnings per share. equities analysts predict that Pacific Premier Bancorp Inc will post 1.68 earnings per share for the current fiscal year.

In other news, Chairman Steven R. Gardner sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $41.02, for a total transaction of $512,750.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ronald J. Jr. Nicolas bought 2,500 shares of Pacific Premier Bancorp stock in a transaction dated Monday, November 13th. The shares were acquired at an average cost of $36.97 per share, for a total transaction of $92,425.00. The disclosure for this purchase can be found here. 4.59% of the stock is currently owned by insiders.

A number of brokerages have commented on PPBI. BidaskClub raised Pacific Premier Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. ValuEngine raised Pacific Premier Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies set a $43.00 price target on Pacific Premier Bancorp and gave the stock a “buy” rating in a research note on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $45.00.

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About Pacific Premier Bancorp

Pacific Premier Bancorp, Inc is a bank holding company. The Company’s subsidiary, Pacific Premier Bank (the Bank), is a California state-chartered commercial bank. The Company’s principal business is attracting deposits from small and middle market businesses and consumers and investing those deposits together with funds generated from operations and borrowings, primarily in commercial business loans and various types of commercial real estate (CRE) loans.

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Institutional Ownership by Quarter for Pacific Premier Bancorp (NASDAQ:PPBI)

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