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

Pacific Premier Bancorp (NASDAQ:PPBI) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01, Briefing.com reports. The firm had revenue of $239.21 million during the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. During the same period last year, the company posted $0.66 EPS.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded up $0.04 during trading on Friday, reaching $22.20. 70,761 shares of the company traded hands, compared to its average volume of 527,683. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 170.47 and a beta of 1.21. The stock’s 50 day moving average price is $23.02 and its two-hundred day moving average price is $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 declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.95%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PPBI shares. TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods lowered their target price on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a research note on Thursday. Stephens reissued an “equal weight” rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Wedbush reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a research report on Thursday. Finally, Raymond James reiterated an “outperform” rating and issued a $25.00 price objective (down from $29.00) on shares of Pacific Premier Bancorp in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Pacific Premier Bancorp presently has an average rating of “Hold” and a consensus price target of $27.17.

Insider Buying and Selling

In other news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction dated Thursday, March 21st. The shares were acquired at an average price of $23.92 per share, with a total value of $28,704.00. Following the acquisition, the director now owns 14,507 shares in the company, 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 corporate insiders.

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.