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

Pacific Premier Bancorp (NASDAQ:PPBI) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.49 earnings per share 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 business had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same period in the previous year, the firm posted $0.66 EPS.

Pacific Premier Bancorp Stock Down 2.4 %

PPBI stock traded down $0.55 during trading on Thursday, hitting $22.19. 86,368 shares of the stock traded hands, compared to its average volume of 525,320. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 73.20 and a beta of 1.21. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year high of $30.13. The firm’s 50 day moving average is $23.04 and its two-hundred day moving average is $24.11.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Monday, May 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is 440.00%.

Insider Transactions at Pacific Premier Bancorp

In other news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, March 21st. The stock was bought at an average price of $23.92 per share, with a total value of $28,704.00. Following the completion of the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PPBI shares. StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods lowered their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research report on Thursday. TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, January 29th. Stephens reiterated 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. Finally, Wedbush reissued a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.00.

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.