Pacific Premier Bancorp, Inc. (PPBI) to Issue Quarterly Dividend of $0.33 on February 10th

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Investors of record on Monday, February 3rd will be given a dividend of 0.33 per share by the financial services provider on Monday, February 10th. This represents a $1.32 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date is Monday, February 3rd.

Pacific Premier Bancorp has increased its dividend by an average of 0.8% per year over the last three years. Pacific Premier Bancorp has a dividend payout ratio of 85.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Pacific Premier Bancorp to earn $1.56 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 84.6%.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI opened at $25.90 on Friday. The business has a 50-day moving average of $25.83 and a 200-day moving average of $25.76. Pacific Premier Bancorp has a fifty-two week low of $20.52 and a fifty-two week high of $30.28. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 15.79 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.85 and a quick ratio of 0.85.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a net margin of 17.54% and a return on equity of 5.43%. As a group, sell-side analysts predict that Pacific Premier Bancorp will post 1.34 earnings per share for the current fiscal year.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Michael S. Karr sold 10,290 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now directly owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margaret S. Ohlhaver sold 9,273 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. The trade was a 26.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PPBI. DA Davidson reduced their price objective on shares of Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Wedbush cut their target price on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.00.

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.