Pacific Premier Bancorp (NASDAQ:PPBI) Posts Quarterly Earnings Results, Hits Estimates

Pacific Premier Bancorp (NASDAQ:PPBI) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43, Briefing.com reports. The company had revenue of $154.62 million during the quarter, compared to the consensus estimate of $162.23 million. During the same period last year, the business earned $0.60 EPS. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year.

Pacific Premier Bancorp Price Performance

NASDAQ PPBI traded up $0.17 during trading on Thursday, hitting $26.72. 852,981 shares of the stock traded hands, compared to its average volume of 535,762. The company has a market capitalization of $2.58 billion, a P/E ratio of 205.55 and a beta of 1.24. The firm has a 50-day simple moving average of $22.97 and a 200-day simple moving average of $23.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. Pacific Premier Bancorp has a 12-month low of $17.86 and a 12-month high of $30.13.

Pacific Premier Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.94%. The ex-dividend date is Monday, August 5th. Pacific Premier Bancorp’s dividend payout ratio is presently 1,015.46%.

Insider Transactions at Pacific Premier Bancorp

In other news, CFO Lori R. Wright sold 4,668 shares of Pacific Premier Bancorp stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $23.59, for a total value of $110,118.12. Following the completion of the transaction, the chief financial officer now owns 31,259 shares in the company, valued at approximately $737,399.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler decreased their price objective on Pacific Premier Bancorp from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Stephens lifted their target price on Pacific Premier Bancorp from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com raised Pacific Premier Bancorp to a “sell” rating in a research note on Friday, May 17th. Wedbush lifted their target price on Pacific Premier Bancorp from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Raymond James lifted their target price on Pacific Premier Bancorp from $25.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pacific Premier Bancorp currently has a consensus rating of “Hold” and a consensus target price of $26.50.

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.