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

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 annualized dividend and a yield of 5.80%. The ex-dividend date of this dividend is Friday, May 3rd.

Pacific Premier Bancorp has increased its dividend by an average of 8.6% annually over the last three years. Pacific Premier Bancorp has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. 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 opened at $22.74 on Thursday. 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 has a 52 week low of $17.53 and a 52 week high of $30.13. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 75.80 and a beta of 1.21. The business has a 50-day simple moving average of $23.04 and a two-hundred day simple moving average of $24.11.

Pacific Premier Bancorp (NASDAQ:PPBI) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. Pacific Premier Bancorp had a net margin of 24.75% and a return on equity of 7.50%. The business had revenue of $239.21 million for the quarter, compared to analysts’ expectations of $166.98 million. During the same quarter in the previous year, the company earned $0.66 EPS. On average, analysts expect that Pacific Premier Bancorp will post 1.96 EPS for the current year.

Insider Activity at Pacific Premier Bancorp

In related news, Director Barbara Polsky purchased 1,200 shares of Pacific Premier Bancorp stock in a transaction on Thursday, March 21st. The shares were bought at an average price of $23.92 per share, with a total value of $28,704.00. Following the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at $347,007.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.21% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Pacific Premier Bancorp to a “sell” rating in a report on Tuesday. TheStreet downgraded shares of Pacific Premier Bancorp from a “b-” rating to a “c+” rating in a report on Monday, January 29th. Wedbush reaffirmed a “neutral” rating and set a $25.00 target price on shares of Pacific Premier Bancorp in a report on Thursday. Stephens reissued an “equal weight” rating and set a $28.00 target price on shares of Pacific Premier Bancorp in a report on Tuesday, January 30th. 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 analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.60.

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.