Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Announces $0.33 Quarterly Dividend

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Monday, May 6th will be given a dividend of 0.33 per share by the financial services provider on Monday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend is Friday, May 3rd.

Pacific Premier Bancorp has raised its dividend payment by an average of 8.6% per year over the last three years. Pacific Premier Bancorp has a dividend payout ratio of 62.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pacific Premier Bancorp to earn $2.11 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 62.6%.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI opened at $22.74 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 75.80 and a beta of 1.21. The company’s 50-day moving average price is $23.04 and its 200 day moving average price is $24.11. Pacific Premier Bancorp has a 52 week low of $17.53 and a 52 week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The business had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, research analysts forecast that Pacific Premier Bancorp will post 1.96 earnings per share for the current fiscal year.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky acquired 1,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were acquired at an average cost of $23.92 per share, for a total transaction 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PPBI. Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. StockNews.com raised shares of Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. Raymond James reaffirmed an “outperform” rating and issued a $29.00 target price (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. Finally, Wedbush reissued a “neutral” rating and issued a $25.00 target price on shares of Pacific Premier Bancorp in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.60.

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.