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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend is Friday, May 3rd.

Pacific Premier Bancorp has raised its dividend by an average of 8.6% annually over the last three years. Pacific Premier Bancorp has a dividend payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pacific Premier Bancorp to earn $1.93 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 68.4%.

Pacific Premier Bancorp Price Performance

Shares of PPBI stock opened at $21.50 on Wednesday. Pacific Premier Bancorp has a twelve month low of $17.53 and a twelve month high of $30.13. The company has a current ratio of 0.90, a quick ratio of 0.93 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.07 billion, a PE ratio of 165.40 and a beta of 1.21. The firm has a fifty day simple moving average of $22.84 and a 200-day simple moving average of $24.12.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $239.21 million for 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 in the previous year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Pacific Premier Bancorp will post 1.84 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Barbara Polsky bought 1,200 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were bought 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Stephens restated an “equal weight” rating and issued a $28.00 price target on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. DA Davidson decreased their price target on 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 cut their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research report on Tuesday, April 23rd. Finally, TheStreet cut Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research note on Monday, January 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.