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

Pacific Premier Bancorp, Inc. (NASDAQ:PPBI) announced a quarterly dividend on Friday, January 24th,Wall Street Journal reports. Investors of record on Monday, February 3rd will be paid a dividend of 0.33 per share by the financial services provider on Monday, February 10th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.29%. 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 decline. Research analysts expect Pacific Premier Bancorp to earn $1.32 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 100.0%.

Pacific Premier Bancorp Stock Performance

NASDAQ PPBI traded up $0.05 on Friday, reaching $24.97. The stock had a trading volume of 758,408 shares, compared to its average volume of 471,838. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $2.41 billion, a P/E ratio of -166.46 and a beta of 1.26. The business’s 50-day moving average price is $26.09 and its 200 day moving average price is $25.68. Pacific Premier Bancorp has a 12-month low of $20.52 and a 12-month high of $30.28.

Pacific Premier Bancorp (NASDAQ:PPBI) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. As a group, equities analysts expect that Pacific Premier Bancorp will post 1.59 earnings per share for the current year.

Insider Activity

In other Pacific Premier Bancorp news, EVP Margaret S. Ohlhaver sold 9,273 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $27.96, for a total transaction of $259,273.08. Following the transaction, the executive vice president now directly owns 25,475 shares in the company, valued at approximately $712,281. This represents a 26.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael S. Karr sold 10,290 shares of Pacific Premier Bancorp stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $26.87, for a total transaction of $276,492.30. Following the sale, the executive vice president now owns 79,474 shares of the company’s stock, valued at approximately $2,135,466.38. The trade was a 11.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PPBI shares. Wedbush reduced their price objective on 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. DA Davidson decreased their price target on Pacific Premier Bancorp from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.00.

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.