Pacific Premier Bancorp (NASDAQ:PPBI) Announces Earnings Results

Pacific Premier Bancorp (NASDAQ:PPBI) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01, Briefing.com reports. The business had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. During the same quarter in the prior year, the company earned $0.66 earnings per share.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI traded down $0.55 during midday trading on Thursday, reaching $22.19. The stock had a trading volume of 138,683 shares, compared to its average volume of 525,911. The stock has a 50-day moving average of $23.04 and a 200-day moving average of $24.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 73.97 and a beta of 1.21. Pacific Premier Bancorp has a 12-month low of $17.53 and a 12-month high of $30.13.

Pacific Premier Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.95%. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 440.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Raymond James restated an “outperform” rating and issued a $29.00 price objective (up previously from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. TheStreet cut shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Wedbush reiterated a “neutral” rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.00.

Insider Transactions at Pacific Premier Bancorp

In related news, Director Barbara Polsky bought 1,200 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average cost of $23.92 per share, with a total value of $28,704.00. Following the completion of the purchase, the director now owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.21% of the company’s stock.

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.