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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors of record on Monday, November 4th will be given a dividend of 0.33 per share by the financial services provider on Tuesday, November 12th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Monday, November 4th.

Pacific Premier Bancorp has raised its dividend payment by an average of 8.6% per year over the last three years. Pacific Premier Bancorp has a dividend payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Pacific Premier Bancorp to earn $1.34 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 98.5%.

Pacific Premier Bancorp Trading Down 0.1 %

Shares of Pacific Premier Bancorp stock opened at $25.49 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.88 and a quick ratio of 0.89. The business has a fifty day simple moving average of $25.17 and a two-hundred day simple moving average of $23.97. Pacific Premier Bancorp has a 1 year low of $19.32 and a 1 year high of $30.13. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of -169.92 and a beta of 1.22.

Pacific Premier Bancorp (NASDAQ:PPBI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The firm had revenue of $224.49 million for the quarter, compared to the consensus estimate of $153.23 million. During the same period in the previous year, the company posted $0.48 EPS. Research analysts forecast that Pacific Premier Bancorp will post 1.59 EPS for the current year.

Insider Transactions at Pacific Premier Bancorp

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

Wall Street Analysts Forecast Growth

PPBI has been the subject of several research reports. Wedbush dropped their price target on Pacific Premier Bancorp from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stephens increased their price objective on 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. Finally, Raymond James boosted their target price on shares of Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One research 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.com, Pacific Premier Bancorp has an average rating of “Hold” and an average 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.