Pacific Premier Bancorp (NASDAQ:PPBI) Posts Earnings Results, Hits Expectations

Pacific Premier Bancorp (NASDAQ:PPBI) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43, Briefing.com reports. The company had revenue of $154.62 million during the quarter, compared to analyst estimates of $162.23 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The business’s revenue was down 9.5% compared to the same quarter last year.

Pacific Premier Bancorp Stock Up 1.2 %

Shares of Pacific Premier Bancorp stock traded up $0.32 during trading on Friday, hitting $27.04. 364,940 shares of the stock were exchanged, compared to its average volume of 534,482. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.90. The firm’s 50-day moving average price is $22.97 and its 200 day moving average price is $23.65. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 205.55 and a beta of 1.24. Pacific Premier Bancorp has a 12-month low of $17.86 and a 12-month high of $30.13.

Pacific Premier Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio (DPR) is presently 1,015.46%.

Insider Activity at Pacific Premier Bancorp

In other news, CFO Lori R. Wright sold 4,668 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the completion of the transaction, the chief financial officer now directly owns 31,259 shares of the company’s stock, valued at approximately $737,399.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stephens upped their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Thursday. DA Davidson lowered their target price on Pacific Premier Bancorp from $32.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Piper Sandler reduced their price target on shares of Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, Raymond James lifted their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.50.

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.