Pacific Premier Bancorp, Inc. (PPBI) to Issue Quarterly Dividend of $0.33 on May 13th

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 increased its dividend payment 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. 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

Pacific Premier Bancorp stock opened at $21.50 on Wednesday. The company’s 50 day simple moving average is $22.84 and its 200-day simple moving average is $24.12. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.90. Pacific Premier Bancorp has a 1 year low of $17.53 and a 1 year high of $30.13. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 165.40 and a beta of 1.21.

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, beating analysts’ consensus estimates of $0.48 by $0.01. Pacific Premier Bancorp had a return on equity of 6.92% and a net margin of 24.75%. The company had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. As a group, equities research analysts expect that Pacific Premier Bancorp will post 1.84 earnings per share for the current year.

Analyst Ratings Changes

PPBI has been the subject of several research reports. Stephens reaffirmed an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. Piper Sandler cut their target price on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday. DA Davidson decreased their price target on shares of Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wedbush reaffirmed a “neutral” rating and set a $25.00 price objective on shares of Pacific Premier Bancorp in a research report on Thursday, April 25th. Finally, StockNews.com upgraded Pacific Premier Bancorp to a “sell” rating in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $26.33.

Insider Buying and Selling

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 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 directly 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 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.