Pacific Premier Bancorp (NASDAQ:PPBI) Announces Earnings Results

Pacific Premier Bancorp (NASDAQ:PPBI) announced its quarterly earnings results on Thursday. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03, Zacks reports.

Pacific Premier Bancorp Trading Up 0.2 %

Shares of NASDAQ:PPBI opened at $24.97 on Friday. Pacific Premier Bancorp has a 12-month low of $20.52 and a 12-month high of $30.28. The business has a 50 day moving average of $26.04 and a 200-day moving average of $25.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88.

Pacific Premier Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date is Monday, February 3rd. Pacific Premier Bancorp’s dividend payout ratio is presently -879.94%.

Insider Transactions at Pacific Premier Bancorp

In other news, EVP Margaret S. Ohlhaver sold 9,273 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $27.96, for a total transaction of $259,273.08. Following the completion of the sale, the executive vice president now owns 25,475 shares in the company, valued at $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael S. Karr sold 10,290 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the completion of the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. This trade represents a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. DA Davidson lowered their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. Wedbush lowered their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Pacific Premier Bancorp presently has an average rating of “Hold” and an average target price of $27.00.

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.