Pacific Premier Bancorp (NASDAQ:PPBI) Announces Earnings Results

Pacific Premier Bancorp (NASDAQ:PPBI) issued its earnings results on Wednesday. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating 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 6.92%. During the same quarter in the previous year, the firm posted $0.66 EPS.

Pacific Premier Bancorp Stock Up 0.2 %

Shares of PPBI traded up $0.05 on Friday, hitting $22.21. 65,660 shares of the stock traded hands, compared to its average volume of 527,630. The company has a market capitalization of $2.13 billion, a PE ratio of 170.47 and a beta of 1.21. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. The business has a 50 day simple moving average of $23.02 and a 200 day simple moving average of $24.10. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is 1,015.46%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PPBI shares. Raymond James reaffirmed an “outperform” rating and issued a $25.00 price target (down previously from $29.00) on shares of Pacific Premier Bancorp in a report on Thursday. DA Davidson decreased their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Keefe, Bruyette & Woods decreased their price target on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.17.

Insider Activity at Pacific Premier Bancorp

In other news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is owned by 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.