Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) Declares $0.33 Quarterly Dividend

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Investors of record on Monday, November 4th will be paid a dividend of 0.33 per share by the financial services provider on Tuesday, November 12th. This represents a $1.32 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Monday, November 4th.

Pacific Premier Bancorp has raised its dividend by an average of 8.6% annually over the last three years. Pacific Premier Bancorp has a dividend payout ratio of 89.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Pacific Premier Bancorp to earn $1.48 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 89.2%.

Pacific Premier Bancorp Price Performance

PPBI opened at $25.01 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.89 and a current ratio of 0.89. Pacific Premier Bancorp has a 52 week low of $17.86 and a 52 week high of $30.13. The company has a fifty day moving average price of $25.09 and a two-hundred day moving average price of $23.82. The firm has a market capitalization of $2.41 billion, a PE ratio of 192.38 and a beta of 1.22.

Pacific Premier Bancorp (NASDAQ:PPBI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). During the same quarter last year, the company posted $0.48 EPS. As a group, analysts anticipate that Pacific Premier Bancorp will post 1.64 earnings per share for the current year.

Insider Activity

In related news, COO Edward Earl Wilcox sold 30,499 shares of Pacific Premier Bancorp stock in a transaction on Monday, September 9th. The shares were sold at an average price of $23.63, for a total value of $720,691.37. Following the transaction, the chief operating officer now owns 230,592 shares in the company, valued at $5,448,888.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeff C. Jones sold 11,251 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $23.62, for a total transaction of $265,748.62. Following the completion of the transaction, the director now directly owns 123,794 shares in the company, valued at $2,924,014.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Edward Earl Wilcox sold 30,499 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.63, for a total transaction of $720,691.37. Following the sale, the chief operating officer now owns 230,592 shares in the company, valued at approximately $5,448,888.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Stephens boosted their price objective on shares of Pacific Premier Bancorp from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Wedbush dropped their target price on Pacific Premier Bancorp from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. 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 research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.83.

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.