Pacific Premier Bancorp, Inc. to Issue Quarterly Dividend of $0.33 (NASDAQ:PPBI)

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors 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 6.00%. 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% per year 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 $2.11 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 62.6%.

Pacific Premier Bancorp Stock Performance

Shares of PPBI traded down $0.73 during mid-day trading on Thursday, hitting $22.01. The company’s stock had a trading volume of 57,222 shares, compared to its average volume of 525,024. The firm has a market capitalization of $2.11 billion, a PE ratio of 73.20 and a beta of 1.21. Pacific Premier Bancorp has a one year low of $17.53 and a one year high of $30.13. The stock’s 50-day moving average is $23.04 and its two-hundred day moving average is $24.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.93 and a current ratio of 0.93.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. The firm had revenue of $239.21 million for the quarter, compared to analyst estimates of $166.98 million. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, sell-side analysts anticipate that Pacific Premier Bancorp will post 1.96 EPS for the current year.

Analyst Upgrades and Downgrades

PPBI has been the subject of a number of research analyst reports. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. Raymond James restated an “outperform” rating and issued a $29.00 price objective (up from $26.00) on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Keefe, Bruyette & Woods reduced their target price on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating on the stock in a report on Thursday. Stephens reiterated an “equal weight” rating and issued a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. Finally, Wedbush restated a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.00.

Insider Activity at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, Director Barbara Polsky purchased 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were acquired 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 owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.21% of the stock is owned by company insiders.

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.