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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 6th will be paid 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 5.94%. The ex-dividend date of this dividend is Friday, May 3rd.

Pacific Premier Bancorp has increased its dividend payment by an average of 8.6% annually over the last three years. Pacific Premier Bancorp has a payout ratio of 62.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pacific Premier Bancorp to earn $1.87 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 70.6%.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI opened at $22.22 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.14 billion, a PE ratio of 170.94 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. The company has a 50 day moving average price of $22.79 and a two-hundred day moving average price of $24.12.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $239.21 million during the quarter, compared to analyst estimates 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 business earned $0.66 EPS. As a group, equities analysts predict that Pacific Premier Bancorp will post 1.79 earnings per share for the current fiscal year.

Insider Transactions at Pacific Premier Bancorp

In related news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction on Thursday, March 21st. The stock was purchased at an average cost of $23.92 per share, with a total value of $28,704.00. Following the acquisition, the director now directly owns 14,507 shares in the company, valued at $347,007.44. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.21% of the company’s stock.

Analyst Upgrades and Downgrades

PPBI has been the topic of a number of recent analyst reports. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods dropped 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 research report on Thursday, April 25th. 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 note on Thursday, April 25th. Piper Sandler decreased their price objective on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday. Finally, TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.33.

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.