Pacific Premier Bancorp (NASDAQ:PPBI) Releases Quarterly Earnings Results

Pacific Premier Bancorp (NASDAQ:PPBI) released its quarterly earnings results on Wednesday. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01, Briefing.com reports. Pacific Premier Bancorp had a return on equity of 7.50% and a net margin of 24.75%. The firm had revenue of $239.21 million for the quarter, compared to the consensus estimate of $166.98 million. During the same quarter last year, the business posted $0.66 EPS.

Pacific Premier Bancorp Stock Performance

Shares of NASDAQ:PPBI traded down $0.46 during trading on Thursday, reaching $22.28. 118,470 shares of the stock were exchanged, compared to its average volume of 525,633. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Pacific Premier Bancorp has a 12 month low of $17.53 and a 12 month high of $30.13. The stock has a 50-day moving average price of $23.04 and a 200-day moving average price of $24.11. The firm has a market cap of $2.14 billion, a PE ratio of 73.20 and a beta of 1.21.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Friday, May 3rd. Pacific Premier Bancorp’s dividend payout ratio is presently 440.00%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PPBI. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods decreased their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a report on Thursday. Stephens restated an “equal weight” rating and issued a $28.00 price objective on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Wedbush restated a “neutral” rating and issued a $25.00 price objective on shares of Pacific Premier Bancorp in a report on Thursday. Finally, TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.00.

Insider Activity

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was bought 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 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 at the SEC website. 2.21% of the stock is owned by company 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.