Pacific Premier Bancorp (NASDAQ:PPBI) Issues Earnings Results

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

Pacific Premier Bancorp Trading Up 0.1 %

Pacific Premier Bancorp stock traded up $0.03 during midday trading on Friday, hitting $26.75. 61,694 shares of the stock were exchanged, compared to its average volume of 532,315. The stock has a market capitalization of $2.58 billion, a PE ratio of 205.55 and a beta of 1.24. The company has a fifty day simple moving average of $22.97 and a two-hundred day simple moving average of $23.65. The company has a quick ratio of 0.90, a current ratio of 0.89 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 52 week low of $17.86 and a 52 week high of $30.13.

Pacific Premier Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, August 5th will be paid a $0.33 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.32 dividend on an annualized basis and a yield of 4.93%. Pacific Premier Bancorp’s payout ratio is presently 1,015.46%.

Insiders Place Their Bets

In other Pacific Premier Bancorp news, CFO Lori R. Wright sold 4,668 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $110,118.12. Following the transaction, the chief financial officer now owns 31,259 shares of the company’s stock, valued at $737,399.81. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PPBI shares. Stephens upped their price target on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a research report on Friday, May 17th. Wedbush increased their price target on Pacific Premier Bancorp from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods reduced their price objective on shares of Pacific Premier Bancorp from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Thursday, April 25th. Finally, Raymond James upped their price objective on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company 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.