Pacific Premier Bancorp (NASDAQ:PPBI) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Pacific Premier Bancorp (NASDAQ:PPBI) released its quarterly earnings data on Wednesday. The financial services provider reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01, Briefing.com reports. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The firm had revenue of $239.21 million during the quarter, compared to the consensus estimate of $166.98 million. During the same quarter in the previous year, the company posted $0.66 earnings per share.

Pacific Premier Bancorp Stock Performance

PPBI stock traded down $0.55 during trading on Thursday, reaching $22.19. 86,368 shares of the company’s stock were exchanged, compared to its average volume of 525,320. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The firm has a market cap of $2.13 billion, a PE ratio of 73.20 and a beta of 1.21. The company’s fifty day moving average price is $23.04 and its 200-day moving average price is $24.11. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.32.

Pacific Premier Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 5.95%. The ex-dividend date of this dividend is Friday, May 3rd. Pacific Premier Bancorp’s payout ratio is currently 440.00%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PPBI. Stephens reaffirmed an “equal weight” rating and set a $28.00 price objective on shares of Pacific Premier Bancorp in a research report on Tuesday, January 30th. TheStreet lowered Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Wedbush reissued a “neutral” rating and issued a $25.00 price target on shares of Pacific Premier Bancorp in a report on Thursday. Keefe, Bruyette & Woods lowered their price objective on Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Raymond James reiterated an “outperform” rating and issued a $29.00 target price (up from $26.00) on shares of Pacific Premier Bancorp in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.00.

Insider Activity

In related news, Director Barbara Polsky bought 1,200 shares of the stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $23.92 per share, with a total value of $28,704.00. Following the purchase, the director now owns 14,507 shares in the company, valued at $347,007.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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.