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

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

Pacific Premier Bancorp Price Performance

NASDAQ:PPBI traded down $0.55 during mid-day trading on Thursday, reaching $22.19. 138,683 shares of the stock were exchanged, compared to its average volume of 525,911. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.32. Pacific Premier Bancorp has a 1-year low of $17.53 and a 1-year high of $30.13. The firm has a market capitalization of $2.13 billion, a PE ratio of 73.97 and a beta of 1.21. The business has a fifty day moving average price of $23.04 and a 200 day moving average price of $24.11.

Pacific Premier Bancorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Pacific Premier Bancorp

In related news, Director Barbara Polsky purchased 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average price of $23.92 per share, for a total transaction of $28,704.00. Following the transaction, the director now directly owns 14,507 shares of the company’s stock, valued at approximately $347,007.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.21% of the stock is currently owned by corporate 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.