Pacific Premier Bancorp (NASDAQ:PPBI) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Pacific Premier Bancorp (NASDAQ:PPBI) released its quarterly earnings data on Wednesday. The financial services provider reported $0.49 EPS for the quarter, beating the consensus estimate of $0.48 by $0.01, Briefing.com reports. The business had revenue of $239.21 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.66 EPS.

Pacific Premier Bancorp Price Performance

Shares of NASDAQ PPBI traded up $0.23 during mid-day trading on Friday, reaching $22.39. The company’s stock had a trading volume of 12,437 shares, compared to its average volume of 526,992. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The stock has a market capitalization of $2.15 billion, a P/E ratio of 170.47 and a beta of 1.21. The stock has a 50-day moving average of $23.02 and a two-hundred day moving average of $24.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90.

Pacific Premier Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is 1,015.46%.

Insiders Place Their Bets

In related news, Director Barbara Polsky purchased 1,200 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $23.92 per share, for a total transaction of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Raymond James restated an “outperform” rating and set a $25.00 price objective (down from $29.00) on shares of Pacific Premier Bancorp in a research report on Thursday. Wedbush restated a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research report on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, DA Davidson reduced their price objective on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.17.

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.