Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) announced a quarterly dividend on Tuesday, April 27th, Zacks reports. Stockholders of record on Friday, May 7th will be given a dividend of 0.33 per share by the financial services provider on Friday, May 14th. This represents a $1.32 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, May 6th. This is a positive change from Pacific Premier Bancorp’s previous quarterly dividend of $0.30.
Pacific Premier Bancorp has a payout ratio of 51.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pacific Premier Bancorp to earn $2.17 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 60.8%.
Shares of PPBI opened at $44.60 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.20. Pacific Premier Bancorp has a 12-month low of $15.71 and a 12-month high of $47.15. The firm has a market capitalization of $4.22 billion, a PE ratio of 106.19 and a beta of 1.36. The stock’s fifty day simple moving average is $43.75 and its 200-day simple moving average is $35.55.
PPBI has been the topic of several research reports. Raymond James upped their price target on shares of Pacific Premier Bancorp from $40.00 to $49.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 28th. Zacks Investment Research cut shares of Pacific Premier Bancorp from a “buy” rating to a “hold” rating in a report on Saturday.
In other Pacific Premier Bancorp news, CFO Ronald J. Jr. Nicolas sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $46.64, for a total transaction of $256,520.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Edward Earl Wilcox sold 10,434 shares of Pacific Premier Bancorp stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $46.64, for a total transaction of $486,641.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,934 shares of company stock valued at $1,880,162. 2.81% of the stock is currently owned by company insiders.
About Pacific Premier Bancorp
Pacific Premier Bancorp, Inc operates as the bank holding company for Pacific Premier Bank that provides banking services to businesses, professionals, real estate investors, and non-profit organizations. The company accepts deposit products, such as checking, money market, and savings accounts; and certificates of deposit.
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