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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders 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 6.00%. 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 payout ratio of 62.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Pacific Premier Bancorp to earn $2.11 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 62.6%.

Pacific Premier Bancorp Stock Down 3.2 %

Shares of Pacific Premier Bancorp stock traded down $0.73 during trading on Thursday, reaching $22.01. The stock had a trading volume of 57,222 shares, compared to its average volume of 525,024. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 73.20 and a beta of 1.21. The stock has a fifty day moving average price of $23.04 and a two-hundred day moving average price of $24.11. Pacific Premier Bancorp has a 52 week low of $17.53 and a 52 week high of $30.13.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The company had revenue of $239.21 million during the quarter, compared to analysts’ expectations of $166.98 million. During the same period last year, the business earned $0.66 EPS. Sell-side analysts predict that Pacific Premier Bancorp will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Pacific Premier Bancorp

In other news, Director Barbara Polsky acquired 1,200 shares of the firm’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 directly owns 14,507 shares in the company, valued at approximately $347,007.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.21% of the company’s stock.

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.