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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Tuesday, January 21st,Wall Street Journal reports. Stockholders of record on Monday, February 3rd will be given a dividend of 0.33 per share by the financial services provider on Monday, February 10th. This represents a $1.32 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Monday, February 3rd.

Pacific Premier Bancorp has raised its dividend by an average of 0.8% annually over the last three years. Pacific Premier Bancorp has a dividend payout ratio of 85.2% indicating that 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 $1.56 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 84.6%.

Pacific Premier Bancorp Stock Down 0.3 %

PPBI opened at $25.90 on Friday. Pacific Premier Bancorp has a 12 month low of $20.52 and a 12 month high of $30.28. The company has a market cap of $2.50 billion, a PE ratio of 15.79 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $25.83 and a 200 day moving average of $25.76.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Pacific Premier Bancorp had a return on equity of 5.43% and a net margin of 17.54%. On average, sell-side analysts expect that Pacific Premier Bancorp will post 1.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PPBI. DA Davidson reduced their target price on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, January 24th. Wedbush reduced their price objective on shares of Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus price target of $27.00.

Insider Transactions at Pacific Premier Bancorp

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of Pacific Premier Bancorp stock in a transaction dated 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 of the company’s stock, valued at $712,281. The trade was a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael S. Karr sold 10,290 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total value of $276,492.30. Following the transaction, the executive vice president now owns 79,474 shares in the company, valued at $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. 2.21% of the stock is owned by insiders.

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.